Claire’s has announced that it is seeking creditor protection in the United States and will soon do the same in Canada.
On Wednesday, August 6, 2025 the popular accessories and jewellery chain confirmed that it has commenced voluntary Chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware. The iconic mall brand added that Claire’s affiliate operating stores across Canada also intend to begin proceedings under the Companies’ Creditors Arrangement Act (CCAA) in the Ontario Superior Court of Justice.
Claire’s — which sells an assortment of jewellery, socks, slippers, beauty, and hair accessories — said that the move is “to maximize the value of its business.” They also noted that its retail stores in North America will remain open and continue to serve customers while the company continues to explore all strategic alternatives.
According to the company these proceedings will “enable Claire’s to immediately commence the monetization process for its assets to maximize value for the business, while continuing an active and comprehensive review of strategic alternatives, including discussions with potential strategic partners that began prior to the filings.”
Chris Cramer, chief executive officer of Claire’s, said in a statement that this decision was “difficult, but a necessary one.”
“Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders,” Cramer said. “We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives.”
The retailer also says it intends to continue paying employee wages and benefits.
“I’d like to express my gratitude for our employees, who have continued to work diligently in a constantly evolving consumer landscape to deliver amazing products and experiences for our customers,” added Cramer. “We remain committed to serving our customers and partnering with our vendors and landlords in other regions during this time.”
This isn’t the first time the 63-year-old company has undergone this process. Claire’s also filed for creditor protection back in 2018, when it had over 4,500 stores worldwide. Claire’s currently has over 2,750 stores in 17 countries.
Claire’s stores across both the United States and Canada will remain open while the company goes through this process.
