Overview

• Claire’s filed for Chapter 11 protection on August 6 in Delaware, marking its second bankruptcy in seven years.
• The company estimated its assets and liabilities each between $1 billion and $10 billion and deferred interest on a $480 million loan due in December 2026.
• Its network spans roughly 2,750 stores in 17 countries and 190 Icing locations in North America.
• CEO Chris Cramer attributed the filing to high debt obligations, rising import tariffs and competition from online and low-cost retailers.
• Claire’s has hired advisers including Houlihan Lokey and Interpath Advisory to solicit bids and evaluate sale or reorganization options.