The jewelry retailer Claire’s announced it filed for Chapter 11 bankruptcy. This is the second time the business has filed; the first was back in 2018.

In a release , the company shared,”This decision is difficult, but a necessary one. 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,” said Chris Cramer , CEO of Claire’s. “We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives.”

A court filing shows the initial stores set to close include a location in Knoxville, 5368 Pinnacle at Turkey Creek

See Full Page