Overview

• Claire’s U.S. operations filed for Chapter 11 on August 5 in Delaware alongside Canadian affiliates initiating CCAA proceedings in Ontario
• Bankruptcy filings mandate shuttering at least 700 mall-based Claire’s and ICING locations by early September
• The company has engaged Hilco Merchant Resources to begin liquidation sales while it markets its remaining stores to potential buyers
• All North American outlets will stay open during the sale process but could close entirely by late October if no acquisition offer is secured
• Heavy debt obligations due in 2026, rising import tariffs and a shift away from brick-and-mortar shopping eroded margins and triggered the restructuring