Claire’s, the jewelry chain that was once an inescapable part of life for many teens, filed for bankruptcy a second time on Wednesday, joining other retailers who have struggled amid the growth of online shopping and the uncertainty set off by tariffs.
The company filed for Chapter 11 bankruptcy protection in Delaware. It said in a statement that it also planned to start insolvency proceedings in Canada that would allow it to restructure.
“This decision is difficult, but a necessary one,” said Chris Cramer, Claire’s chief executive, adding that the company was discussing its future with “potential strategic partners.” He cited increased competition, consumer spending trends and the company’s debt obligations. Stores in North America will remain open as the company explores alternatives, the statement said.
Claire’s, which is based in Hoffman Estates, Ill., operates more than 2,750 stories in 17 countries across North America and Europe, according to its website. It also owns ICING, a women’s jewelry brand that operates 190 locations.
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