Claire’s stops mass store closings after getting a second chance | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Claire’s, the glitter-covered, nostalgia-fueled haven for millions of teens and tweens, has once again been rescued from extinction.

For generations, it’s been more than just a mall store. Claire’s became a rite of passage, a cultural staple, and, of course, the site of countless first ear piercings. Known for its affordable, trendy jewelry, colorful hair accessories, and quirky novelties, Claire’s helped define adolescence for many.

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Now, thanks to a nearly $140 million deal with the private equity firm Ames Watson, the brand’s legacy will live on, as Claire’s has agreed to sell its North American business and up to 950 stores.

This acquisition ensures the beloved brand will continue to be found in thousands of malls nationwide, allowing the “Claire’s brand to remain a prominent retailer for teens, tweens, and young girls around the world.”

Amid bankruptcy, Claire’s has been acquired by Ames Watson.

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Everything about the acquisition deal that saved the Claire’s legacy

As part of the agreement, Ames Watson will assume a significant portion of Claire’s liabilities, including vendor and landlord debts, cure costs, continue employing a large portion of the staff, and provide $36 million in seller financing to address debt.

While liquidation sales will continue at some North American locations, the deal effectively halts mass store closures.

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For loyal fans, this acquisition is a second chance for Claire’s to reinvent itself and continue its legacy. However, it still raises the question of why anyone would willingly invest in a dying business after the retailer has filed for bankruptcy twice.

Ames Watson has made a name for itself by buying, transforming, and partnering with companies to revive struggling but iconic brands. Some of its past successes include Champion Teamwear and Lids, both of which have resurged in popularity after suffering financial declines.

The firm’s success record gives Claire’s the chance to have a similar revival.

Claire’s files for Chapter 11 bankruptcy twice as it fights for survival

Despite being an iconic name in culture, Claire’s hasn’t been immune to the evolving retail scene.

In 2018, Claire’s filed for Chapter 11 bankruptcy, breaking the hearts of millions of fans worldwide. Later that same year, it emerged from bankruptcy under the new ownership of Elliott Management Corp. and Monarch Alternative Capital.

However, as retail trends continued to shift, competition increased, consumer spending habits slowed, and online shopping gained popularity, the first restructuring process wasn’t enough to prevent Claire’s from accumulating more debt.

Claire’s filed for Chapter 11 bankruptcy for the second time in August 2025, with estimated assets and liabilities between $1 billion and $10 billion.

With over 2,750 stores in 17 countries, including 1,350 in the U.S. with Icing and Walmart shop-in-shop locations, saving Claire’s means more than just keeping a business afloat; it’s about preserving an important piece of growing up, and in a world where so many childhood staples are fading, keeping this one alive is almost necessary.