(NewsNation) — The mall-based teen accessories retailer Claire's recently announced it is filing for Chapter 11 bankruptcy and identified several locations to close soon.

This is the second time since 2018 that Claire's U.S., which operates Claire's and its sister Icing stores in the United States, filed for bankruptcy.

Claire's CEO Chris Cramer cited increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail as the reason for the decision, along with "our current debt obligations and macroeconomic factors," he said in a statement.

According to the company's court filings, a total of 18 Claire's and Icing locations will close, with clearance sales happening no later than Sept. 7. Five of the closures are Icing stores, while the remaining 13 a

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