Latest news with #earpiercing
The Guardian
5 days ago
- Business
- The Guardian
Share your memories of Claire's Accessories
The retailer, Claire's, known for tween jewellery and ear piercing is preparing to appoint administrators in the UK and Ireland, after it struggled to keep up with competition from online retailers such as Amazon. The decision puts 2,150 jobs at risk and comes after Claire's in the US and Canada filed for bankruptcy this month. We would like to hear your memories of Claire's and what it means to you. We're also interested in hearing from anyone who works for the retail store and what the news might mean for you. You can share your memories of Claire's by filling in the form below, or messaging us. Please include as much detail as possible. Please include as much detail as possible. Please note, the maximum file size is 5.7 MB. Your contact details are helpful so we can contact you for more information. They will only be seen by the Guardian. Your contact details are helpful so we can contact you for more information. They will only be seen by the Guardian. If you include other people's names please ask them first. Contact us on WhatsApp at +447766780300. For more information, please see our guidance on contacting us via WhatsApp. For true anonymity please use our SecureDrop service instead. If you're having trouble using the form click here. Read terms of service here and privacy policy here.
Forbes
5 days ago
- Business
- Forbes
Mall Staple Claire's U.K. Follows U.S. Parent Into Administration
For many the location of their first ear piercing, or journey into picking up accessories for themselves or BFFs, Claire's could disappear on both sides of the Pond. The U.K. and Ireland operation of accessories retailer Claire's has followed its U.S. parent and collapsed into administration, putting more than 2,150 jobs at risk, after it failed to find a suitable buyer. The move comes just days after the group's U.S. operations filed for Chapter 11 bankruptcy in a Delaware court earlier this month, blaming increased competition, shifting consumer spending habits, the ongoing move away from bricks-and-mortar retail and debt obligations for its travails. It was the second time in seven years that the chain has filed for bankruptcy. It said within the filing that the company has debts of between $1 billion and $10 billion. Canadian affiliate operating stores (Claire's Canada) also intends to commence proceedings in Canada under the Companies' Creditors Arrangement Act in the Ontario Superior Court of Justice. Claire's retail stores in North America will continue to trade while the company 'explores all strategic alternatives', according to a statement issued by parent company Claire's Holdings LLC and Claire's U.S., which operates Claire's in the U.S. Claire's U.K. Appoints Administrators In Britain the retailer appointed Will Wright and Chris Pole from Interpath as joint administrators for its U.K. and European Services businesses yesterday and Claire's, which is headquartered in Birmingham, trades from 306 stores across the U.K. and Ireland. Interpath U.K. Chief Executive Will Wright said in the announcement: 'Claire's has long been a popular brand across the U.K., known not only for its trend-led accessories but also as the go-to destination for ear piercing. Over the coming weeks, we will endeavour to continue to operate all stores as a going concern for as long as we can, while we assess options for the company. This includes exploring the possibility of a sale which would secure a future for this well-loved brand.' While Claire's stores will continue to operate as usual, customers will no longer be able to buy items online or seek refunds for purchases made prior to the administration. Orders that have not been dispatched are expected to be cancelled. The new comes after the business had been working with Interpath in recent weeks to draw up a rescue plan and sound out potential investors willing to salvage all or parts of its British operations, which posted a pre-tax loss of $5.4 million in the year to 3 February 2024. It is also facing an outstanding loan of $482 million that must be repaid in December next year. Claire's Hit By New Competitors A once-ubiquitous mall brand widely known for sparkly accessories and ear-piercing kiosks, Claire's downfall has stemmed from a perfect storm. Years of heavy borrowing left the company burdened by debt and as mall foot traffic dwindled, Claire's struggled to pivot online, allowing upstart digital rivals like Shein, Temu and TikTok, plus Amazon, to capture spend from trend-hungry and cost conscious teens. Adding to the financial challenges, tariffs and supply chain disruptions have pushed up costs, squeezing already thin margins. Even after rent deferrals and interest payment pauses, liquidity dried up and Claire's story in many ways reflects the broader decline of mall-based teen culture brands which have found themselves outpaced by faster, cheaper, and more digitally savvy competitors. Whether this latest restructuring will save the chain or mark its final chapter remains uncertain. Claire's, which also trades under the Icing fascia, is owned by a consortium including Elliott Management and Monarch Alternative Capital.
Washington Post
06-08-2025
- Business
- Washington Post
Claire's, known for piercing millions of teens' ears, files for Chapter 11, 2nd time since 2018
NEW YORK — Mall-based teen accessories retailer Claire's, known for helping to usher in millions of teens into an important rite of passage — ear piercing — but now struggling with a big debt load and changing consumer tastes, has filed for Chapter 11 bankruptcy protection. Claire's Holdings LLC and certain of its U.S. and Gibraltar-based subsidiaries — collectively Claire's U.S., the operator of Claire's and Icing stores across the United States, made the filing in the U.S. Bankruptcy Court in Delaware on Wednesday. That marked the second time since 2018 and for a similar reason: high debt load and the shift among teens heading online away from physical stores.
Wall Street Journal
06-08-2025
- Business
- Wall Street Journal
Tween Retail Chain Claire's Files for Bankruptcy, to Close Most Stores
Tween retailer Claire's, a shopping-mall fixture known for ear-piercing and accessories, has filed for bankruptcy for the second time with plans to close more than 1,300 U.S. stores. The Hoffman Estates, Ill.-based retailer sought protection from creditors Wednesday, saying it has been hurt by both macroeconomic and retail-specific challenges like less foot traffic, higher interest rates and tariffs.
BBC News
06-08-2025
- Business
- BBC News
Claire's files for bankruptcy as online competition bites
Fashion accessories chain Claire's has filed for bankruptcy in the US for the second time as it struggles with fewer people buying its products, and from online competition eating into confirmed it had already been in discussions "with other partners" about its future. The BBC understands there will be no immediate impact on the firm's UK US-based firm said it was in discussion "with our vendors and landlords" about its North American stores, but shops there would remain open while it explored "alternatives".The US-based firm first filed for bankruptcy in 2018. It currently operates 2,750 stores in 17 countries throughout North America and Europe. It has around 280 stores in the UK, down from 370 in 2018 when it filed for bankruptcy because it was unable to repay a is known for selling jewellery, colourful accessories such as necklaces and bracelets, and is part of millions of young people's memories for its ear piercing services. The firm operates under two brand names, Claire's and Icing, and is the latest casualty of consumers shifting away from physical is owned by a group of firms, including investment giant Elliott Management. "This decision is difficult," wrote Claire's chief executive Chris Cramer, "but a necessary one". He blamed "increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail" for the declaration of bankruptcy, as well as "debt obligations" and wider economic firm's global supply chain means it is likely to suffer as a result of tariffs imposed on goods as a result of US President Trump's escalating trade war with several countries, including China and Cramer said the firm remains in active discussions with potential "strategic and financial partners", which did not exclude the possibility that it was still looking for a buyer. Outside of its European and American stores, Claire's says it has a further 300 franchised stores located primarily in the Middle East and South Africa. It also sells its products in thousands of concessions stores in Europe and the lavender-hued storefronts attracted young people in the 1990s and early 2000s, who rifled through its neon and glitter accessories racks for a good-value buys. It was often a usual stop for a Saturday shopping trip by families and tweens at malls across the also occasionally makes a foray into selling toys including slime, headphones or fluffy toys.
