Source: The Hill
“Claire’s, the mall-based accessories retailer that caters to tweens, has filed for Chapter 11 bankruptcy protection for the second time in less than a decade. The Illinois-based company announced Wednesday that it was voluntarily beginning Chapter 11 proceedings in U.S. Bankruptcy Court for the District of Delaware ‘to maximize the value of its business.’ Its Canadian branch is expected to do the same. … Currently, Claire’s has about $500 million in debt and between $1 billion and $10 billion in assets and liabilities. Citing court documents, CNBC reports Claire’s is exploring a sale of its assets. Other retailers that have filed for bankruptcy this year include At Home and JOANN. Fellow mall-focused stores, like Torrid, have also been forced to close dozens of stores.” (08/06/25)