Mall-staple accessories retailer Claire’s Stores Inc. filed for Chapter 11 protection in U.S. Bankruptcy Court in Delaware on 6 August, marking its second trip through bankruptcy since 2018. The privately held company listed both assets and liabilities at between $1 billion and $10 billion and said it has as many as 50,000 creditors. Investment firms Elliott Management and Monarch Alternative Capital remain its principal owners. Claire’s cited weakening consumer spending, growing online competition and higher import costs linked to U.S. tariffs on Chinese goods for the latest collapse. The retailer is also carrying a roughly $500 million term loan that matures in December 2026 and has deferred recent interest payments to preserve cash. The chain operates about 2,750 stores across 17 countries, including some 1,325 locations in the United States. While outlets will stay open during court proceedings, a bankruptcy filing shows 18 stores will begin liquidation sales immediately and as many as 1,326 U.S. sites could close by 31 October. The company said it will use Chapter 11 to shed debt, evaluate a sale and streamline its footprint, and plans to seek parallel creditor protection in Canada. Claire’s emerged from its previous restructuring in 2018 after eliminating $1.9 billion in debt.