Claire's, the mall chain known for its fashion accessories for teens and tweens, filed for Chapter 11 bankruptcy Wednesday -- its second in seven years -- as tariffs gnaw at its margins and it continues to lose ground to online rivals.

The chain, based in Hoffman Estates, Ill., has 2,750 locations in 17 countries, as well as 190 stores operating under its Icing label in North America, according to its website. The company said all its North American stores will remain open while it "continues to explore all strategic alternatives."

The bankruptcy comes three months after the private company deferred interest payments due in December 2026 on a $480 million loan. Tim Hynes, head of Global Credit Research at Debtwire, said the move probably allowed for the company to pay its employees and p

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