The tween jewellery and ear piercing retailer Claire’s has declared bankruptcy for the second time in seven years as it struggles amid a slowdown in consumer spending and the switch to online shopping.
The US accessories retailer, which has more than 2,700 stores in 17 countries including the UK and France, said in papers filed with the US bankruptcy court in Delaware that it had debts of between $1bn and $10bn.
Uncertainty about Donald Trump’s tariff policy has raised questions about Claire’s ability to deal with a nearly $500m loan which is due for repayment in December 2026.
Chris Cramer, the chief executive of Claire’s, said: “This decision is difficult, but a necessary one. Increased competition, consumer spending trends and…