Claire’s Plans $140M Deal to Save Up to 950 North America Stores

Claire's, the popular tween retailer known for its jewelry and accessories, has been saved from mass closures through a $140 million acquisition deal with private equity firm Ames Watson. The purchase includes the North American business and up to 950 stores, allowing Claire's to maintain a significant retail presence despite filing for bankruptcy for the second time in seven years. Ames Watson will assume liabilities, provide seller financing, and keep thousands of employees, including many at Claire's headquarters, employed. While liquidation sales will continue at some locations, the deal halts the planned closure of 700 underperforming stores and Walmart shop-in-shops. Ames Watson, with a track record of reviving struggling brands, aims to preserve Claire's legacy and emotional connection with generations of consumers. The transaction awaits approval from U.S. and Canadian bankruptcy courts, marking a rare third chance for the retail chain's revival.