The Dutch branch of jewelry chain Claire’s has been declared bankrupt by the Amsterdam court, according to the insolvency register. It had been previously reported that the American company was struggling with financial issues. There are nine Claire’s stores in the Netherlands, including locations in Amsterdam, Arnhem, and Rotterdam.
Claire’s faces strong competition and is struggling with debt. The jewelry chain also struggled as a result of the import tariffs set by the U.S. government. Claire’s had already filed for bankruptcy in Belgium and has sought payment deferrals in other countries, including the United States, the United Kingdom, and France.
Bankruptcy administrator Frans Curl is assessing the situation at Claire’s. According to him, there are around 45 people still employed by the company in the Netherlands.
Claire’s was founded in 1974. Its target audience is mainly young girls between the ages of three and 18. In addition to jewelry, the business also sells cosmetic products and accessories.
The Illinois based company had already gone bankrupt in 2018, but it was able to save itself through restructuring. The chain has over 2,700 stores in 17 countries in North America and Europe. Claire’s Netherlands B.V. is based in ‘s-Gravenhage, Zuid-Holland.