Overview

• Claire’s filed voluntary Chapter 11 in Delaware and related proceedings in Canada on Aug. 6, securing first-day court approvals to maintain store operations and payroll in North America
• Court records name 18 Claire’s and Icing outlets slated to close by Sept. 7 and flag about 1,119 additional U.S. locations for potential shutdown if a buyer isn’t found
• Management has contacted over 150 prospective buyers, received multiple letters of intent and set an Aug. 31 deadline to complete a going-concern sale covering roughly 800 stores
• Hilco Merchant Resources is overseeing immediate store-closing sales and stands ready to liquidate all or part of the U.S. portfolio should a sale agreement not materialize
• U.K. franchisees have tightened operations after the U.S. filing by barring bailiff access and suspending gift-card acceptance as they navigate parallel insolvency pressures