NEW YORK (CNN) — Claire’s, a mall staple that attracts pre-teens for its bargain jewelry and accessories, has filed for its second bankruptcy in less than a decade.
The retailer, which filed for Chapter 11 bankruptcy protection in a federal court in Delaware Wednesday, has been dealing with several problems in recent years including competition from online rivals, mounting debt and the uncertainty from tariffs.
“This decision is difficult, but a necessary one,” said Claire’s CEO Chris Cramer in a statement. “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.”
The stores in North America will