Overview

• A court filing lists 291 closures, including 235 Claire’s U.S. stores and 56 Icing locations, with shutdowns to occur on a rolling basis.
• Another filing identifies 830 stores not expected to close immediately as the restructuring proceeds.
• Claire’s paused liquidation at nearly 1,000 locations tied to the proposed sale, while closing sales continue at stores on the closure list.
• Terms call for $104 million in cash plus a $36 million seller note, with the buyer eligible to take as many as 950 North American stores including in-store inventory.
• The company is in its second bankruptcy since 2018 after pressure from ultra-low-cost online rivals, tariffs, inflation and higher interest rates.