Claire's, the tween jewellery and ear-piercing retailer, has filed for bankruptcy in the US for the second time in seven years, citing a slowdown in consumer spending and the shift to online shopping. The company, which operates more than 2,700 stores across 17 countries including the UK and France, filed papers with a court in Delaware, revealing debts between $1bn and $10bn.
Uncertainty over Donald Trump's tariff policy has raised concerns about Claire's ability to repay a loan of nearly $500m (£375m), due in December 2026. Chief executive Chris Cramer described the decision as difficult but necessary, pointing to increased competition, changing consumer trends, and the move away from brick-and-mortar retail, combined with debt obligations and macroeconomic factors.
Stores in the US and Canada will continue trading during the bankruptcy process, while the company explores strategic alternatives. In the UK, Claire's has appointed advisers from Interpath to consider options, which may include a sale or insolvency, potentially leading to widespread store closures. The UK arm reported a pre-tax loss of £4m in the year to 1 February 2024, on sales of £136m, and employs over 1,600 people.
The group's French arm, operating 239 stores, entered receivership last month. Claire's faces rising competition from rivals such as Superdrug, which now offers ear piercing. Other mall-based retailers have also struggled, with Forever 21 filing for bankruptcy in March and Macy's closing over 60 stores in 2025.
