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article <\/p>\n article <\/p>\n
A Claire’s storefront at Fairview Mall in Toronto, Canada. (Michelle Mengsu Chang\/Toronto Star via Getty Images) <\/p>\n
LOS ANGELES<\/strong> – Claire’s<\/a> is set to close over 290 of its stores as part of its recent bankruptcy and sale to a private equity firm.\u00a0<\/p>\n The closures will affect both Claire’s and Icing locations across the U.S.<\/a> and are expected to be completed by early September.<\/p>\n What we know:<\/p>\n On August 25, Claire’s Holdings LLC filed a court document listing over 290 stores it plans to close.\u00a0<\/p>\n This follows the company’s recent sale of its North American business to private equity firm Ames Watson for $104 million.\u00a0<\/p>\n The closures include 235 Claire’s locations and 56 Icing stores. The filing also indicated that 830 stores, comprising 785 Claire’s and 45 Icing locations, will not close immediately.<\/p>\n SUGGESTED: <\/strong>These US retailers and restaurants fell to bankruptcies, closings in 2024<\/strong><\/a><\/p>\n The company had previously stated in a court filing that it might need to close more than 1,100 stores if a buyer wasn’t found.\u00a0<\/p>\n The states with the most closures are California<\/a> (25), New York (18), and Illinois and Pennsylvania (16 each). Most of these locations are expected to wind down by September 7.<\/p>\n More than two dozen stores closing in California <\/p>\n Local perspective:<\/p>\n Here’s the complete list of stores closing in California:<\/p>\n Additional Icing stores set to close include:<\/p>\n The backstory:<\/p>\n Founded in 1961 as a wig store, Claire’s expanded its business into jewelry and ear piercing in 1978, a service it has since provided to over 100 million customers.\u00a0<\/p>\n Despite its widespread brand recognition, the company has struggled since filing for bankruptcy in March 2018.\u00a0<\/p>\n SUGGESTED: <\/strong>JCPenney stores closing later this month: See the list<\/strong><\/a><\/p>\n Before its recent sale, Claire’s maintained over 2,300 retail locations across 17 countries, including a significant presence within Walmart and as mall kiosks.<\/p>\n What they’re saying:<\/p>\n In a statement<\/a>, CEO Chris Cramer cited “increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail,” which had exacerbated the Illinois-headquartered company\u2019s existing debt, including a loan of $500 million it has to pay off by December. “This decision is difficult, but a necessary one,” Cramer said.<\/p>\n The Source:<\/b> The information in this report comes from a court filing submitted by Claire’s Holdings LLC on August 25 as part of its bankruptcy proceedings, which listed the stores slated for closure. Additional context and direct quotations are sourced from a statement provided by CEO Chris Cramer.<\/p>\n Business<\/a>Consumer<\/a>Money<\/a>Economy<\/a>California<\/a>U.S.<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"article A Claire’s storefront at Fairview Mall in Toronto, Canada. (Michelle Mengsu Chang\/Toronto Star via Getty Images) LOS…\n","protected":false},"author":3,"featured_media":191847,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5123],"tags":[64,1582,276,2436,2961,224,5337,6459,50,68,12286],"class_list":{"0":"post-191846","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-los-angeles","8":"tag-business","9":"tag-ca","10":"tag-california","11":"tag-consumer","12":"tag-la","13":"tag-los-angeles","14":"tag-losangeles","15":"tag-money","16":"tag-news","17":"tag-us","18":"tag-us-economy"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115129921409470200","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/191846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=191846"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/191846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/191847"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=191846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=191846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=191846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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