Claire’s collapses into administration as online orders cancelled and website to close https://t.co/tJ0wKRGCmo
Claire’s is preparing to place its UK and Ireland business into insolvency, after the beleaguered jewelry retailer failed to secure a buyer for the operations https://t.co/rQbsoSUrKu
Fashion accessories chain Claire's is on the brink of collapse. The retailer said it will appoint administrators in the UK and Ireland, putting 2,150 jobs at risk at 278 stores in the UK and 28 in Ireland. https://t.co/YkCnEuNfG3 https://t.co/3WLg5ySe4g
Claire's, the Illinois-based teen accessories retailer known for its ear piercing services, has filed for Chapter 11 bankruptcy protection amid mounting debt and changing consumer preferences. The company, which also operates the Icing brand, announced plans to close more than a dozen stores in the coming weeks. Court documents reveal that if a buyer is not found soon, Claire's could shutter over 1,100 locations. The retailer has filed for bankruptcy twice, raising concerns about its future viability. The financial troubles have extended internationally, with Claire's UK and Ireland operations preparing to enter insolvency after failing to secure a buyer. This move threatens approximately 2,150 jobs across 278 stores in the UK and 28 in Ireland. In Belgium, Claire's has permanently closed its stores, putting around 100 jobs at risk. The UK operations have already collapsed into administration, resulting in canceled online orders and the impending closure of its website.