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Claire’s filed for bankruptcy in Delaware on Wednesday, marking the second time the jewelry accessories chain geared toward adolescents has entered Chapter 11 proceedings.
“This decision is difficult, but a necessary one,” said Chris Cramer, CEO of Claire’s in a company statement. “Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders.”
Claire’s stores throughout the United States will remain open as it explores “strategic alternatives,” the company said.
— This is a developing story and will be updated
