California, August 31, 2025
News Summary
Claire’s Holdings has filed for Chapter 11 bankruptcy protection, burdened by $690 million in debt. The jewelry retailer plans to close 291 stores, including 23 in California, as it seeks to restructure operations with the help of private equity firm Ames Watson, which will maintain most of the remaining stores.
California – Claire’s Holdings, the jewelry and fashion accessories retailer, has filed for Chapter 11 bankruptcy protection as it struggles with significant debt of $690 million. The company plans to close 291 locations nationwide, including 23 in California, as part of its restructuring efforts.
The bankruptcy filing occurred earlier this month in the U.S. Bankruptcy Court in Delaware. This action follows Claire’s previous bankruptcy filing in 2018, raising concerns about the retailer’s long-term viability.
As part of the bankruptcy proceedings, Claire’s has reached an agreement with Ames Watson, a private equity firm, which will acquire its North American business operations. Ames Watson plans to keep operating the remaining 830 stores and will provide $104 million in cash, along with a $36 million seller note for the business assets. Although Claire’s has paused liquidation at several locations, some will still continue to liquidate in North America.
Claire’s CEO, Chris Cramer, cited increased competition, changing consumer spending habits, and a broader shift away from brick-and-mortar retail as key factors that led to this decision. Despite the closures, the company aims to preserve jobs and maintain operations for many of its vendors and landlords.
The retailer operates over 2,750 stores across 17 countries in addition to 190 Icing stores in North America. According to Claire’s, there are still more than 800 stores that will not be closing immediately, allowing for some continuity in operations.
Sales at the closing locations are expected to finish by September 7, 2025. Claire’s has initiated a store closing sale offering 50% off at select locations. Customers can redeem gift cards and C. Club Rewards at participating stores until August 29, 2025.
In California, the specific locations that are scheduled for closure include:
- Oxnard, The Collection At Riverpark
- Emeryville, Bay Street
- Rancho Cordova, Rancho Cordova Town Center
- San Jose, Valley Fair Mall
- Newport Beach, Fashion Island
- Tustin, District At Tustin Legacy
- La Mesa, Grossmont Shopping Center
- City of Commerce, Citadel Outlets
- El Centro, Imperial Valley Mall
- Citrus Heights, Sunrise Mall
- Tulare, Tulare Outlet Center
- Long Beach, The Pike Outlets
- Rancho Santa Margarita, Rancho Santa Margarita
- Lake Arrowhead, Lake Arrowhead Village
- Barstow, Barstow Outlet Center
- San Dimas, San Dimas Marketplace
- Murrieta, Murrieta Town Center
- Alameda, 863 Broadway
- Chula Vista, Gateway Marketplace
- Novato, Vintage Oaks
- Lakewood, Icing Lakewood Center
- Palmdale, Antelope Valley Mall
- Culver City, Culver City Mall
The ongoing financial challenges faced by Claire’s highlight the difficulties many traditional retailers are encountering in the current competitive landscape, marked by the rapid growth of e-commerce and changing consumer preferences.
Frequently Asked Questions
Why did Claire’s Holdings file for Chapter 11 bankruptcy?
Claire’s Holdings filed for Chapter 11 bankruptcy primarily due to incurring $690 million in debt, coupled with increased competition and changing consumer spending trends.
How many stores will Claire’s close as part of the bankruptcy process?
Claire’s plans to close 291 stores nationwide, including 23 locations in California, as part of its restructuring efforts.
What agreement did Claire’s reach with Ames Watson?
Claire’s has reached an agreement with Ames Watson, which will acquire its North American business operations and continue to operate the remaining 830 stores.
When will the store closings take place?
Sales at the locations scheduled for closure are expected to conclude by September 7, 2025.
Can customers still use gift cards at closing locations?
Yes, gift cards and C. Club Rewards can be redeemed at select stores until August 29, 2025.
Key Features of the Article
| Feature | Details |
|---|---|
| Company Filing | Chapter 11 Bankruptcy |
| Debt | $690 million |
| Store Closures | 291 stores nationwide, 23 in California |
| Location of Bankruptcy Filing | U.S. Bankruptcy Court in Delaware |
| Acquisition | Ames Watson acquiring North American operations |
| Remaining Stores | 830 stores operational post-acquisition |
| Date for Store Closing Sales | Ending by September 7, 2025 |
Deeper Dive: News & Info About This Topic
- Siskiyou Daily
- Wikipedia: Claire’s
- ABC10 News
- Google Search: Claire’s bankruptcy
- Fast Company
- Encyclopedia Britannica: Retail
- Los Angeles Times
- Google News: Claire’s closures
- King 5 News
- AOL News
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