Claire’s files for bankruptcy for second time

Teen accessories retailer Claire’s has filed for Chapter 11 bankruptcy protection due to a high debt load and changing consumer tastes. This is the second time since 2018 that the company has filed for bankruptcy.

Claire’s plans to keep its stores in North America open while exploring strategic alternatives. The company cited increased competition, consumer spending trends, and the shift away from brick-and-mortar retail as

reasons for the filing. Analysts believe that Claire’s has been struggling with internal and external challenges, including high debt levels and increased costs due to tariffs.