Claire’s Sells North American Stores to Ames Watson Amid Chapter 11 Restructuring

Claire’s, the fashion-jewelry chain that filed for Chapter 11 protection on 6 August, has agreed to sell its North American business and related intellectual property to private-equity firm Ames Watson for an undisclosed sum. The transaction, which still needs approval from courts in the United States and Canada, comes as the retailer seeks to stem losses and restructure roughly $690 million in debt. Claire’s operates more than 2,300 stores across 17 countries but has been hit by rising competition, high rents and import tariffs. The company said it will pause liquidation at as many as 950 North American outlets that could be preserved under Ames Watson’s ownership, while closures will continue at remaining locations. Ames Watson, a permanent-capital investor that reports more than $2 billion in revenue, said it plans to maintain a “significant retail footprint” for Claire’s in the region. The sale marks the retailer’s second major restructuring effort since emerging from a prior bankruptcy in 2018.