Claire's holds a special place in many of our hearts; it's where we first got our ears pierced, it's where we bought our first wash-out hair dye when we were feeling rebellious, and it's where we bought our Irish-themed accessories for Paddy's Day.
Now, though, we face the end of an era as the fashion jewellery retailer has filed for bankruptcy protection in the US, its second bankruptcy filing since 2018.
Per a court document, there's been a decline in consumer spending, which has led to lower sales.
The US-based brand has listed its estimated assets and liabilities between $1million and $10billion. It said it has 25,001-50,000 creditors.
According to its website, Claire's, which was originally founded in 1961, operates over 2,750 stores across 17 countries, including 15 in Ireland.
Claire's filed for Chapter 11 bankruptcy in March 2018, and filed to go public in 2013, and later in 2021 after its first failed attempt.
The brand formally withdrew its IPO plans for the second time in June 2023, per a filing with the US Securities and Exchange Commission.
Claire's was originally identifiable as a jewellery brand, but over the years it has expanded to include hair accessories, make-up, nails, stationery, phone cases, hats, gloves, sunglasses, you name it...
The brand carries a range of branded merchandise, collaborating with the likes of Harry Potter, Wicked, Hello Kitty, Disney, and Squishmallows.
We're sure if it manages to stick around long enough, we'll see some Labubus cropping up in stores!
