While Claire’s has filed for Chapter 11 bankruptcy protection, it has not officially made the decision to close all Claire’s and Icing locations. It has, according to court documents identified a handful of stores that will close by Sept. 7 if a buyer cannot be found.
Essentially, the company is following two tracks.
First, it’s slowly moving forward with a liquidation plan that would close more than 2,300 retail locations across 17 countries in North America and Europe. That would include shutting down over 9,000 mall kiosks as well as about 200 stores located within Walmart locations.
The Icing brand would be closed as well.
Under its second operating track, Claire’s, which has nearly $700 million in debt, according to its court filings, is pursuing finding a buyer.
Related: Costco members need to watch out for this expensive mistake
The company has not identified an specific purchaser, but has said they there are interested parties. As we have seen with brands like Big Lots, closing a store does not have to be the end.
Claire’s could, in theory, complete going out of business sales, and then have some stores open under a new owner.
Image source: Getty Images
Claire’s begins store closure sales
The Claire’s website now shows what it’s calling “One Last Sparkle,” a going-out-of-business sale.
Prices have been set at “up to 50% off” and the company has shared that this is a “store closing sale at all locations.”
Discounts are valid in-store only. No other discount or coupon may be applied to any sale offer. Any item purchased on or after August 8 is a final purchase with no returns being accepted.
Claire’s stores are still making piercing appointments.
More Bankruptcy:
- Beloved sandwich chain franchisee closes in Chapter 11 bankruptcy
- Huge retail chain nears Chapter 11 bankruptcy after harsh closure
- Famous gunmaker files for Chapter 11 bankruptcy, closes
The company has spoken with several interested bidders, that want to keep its stores, at least some of them, open. It has not yet found a buyer that will keep Claire’s retail locations in business.
Claire’s would have to close all of its locations if it cannot get a sale completed quickly, it said in court documents.
Q&A on Claire’s Gift cards:
- Is Claire’s still accepting gift cards: Yes, it’s still accepting gift cards at its own store locations. Its gift cards do not expire and should be accepted through its going out of business sale, although that could change.
- Is Claire’s still selling gift cards: Yes. You can still buy gift cards in stores and on the Claire’s website.
Claire’s bankruptcy timeline and next steps:
- Second Chapter 11 Filing (U.S.): On August 6, 2025, Claire’s filed for Chapter 11 bankruptcy, its second in seven years, as it continues restructuring efforts globally.
- Claire’s has debt: The company is challenged by $1 billion to $10 billion in assets and liabilities, burdened by nearly $500 million in debt due December 2026.
- Store Closures Underway: 18 U.S. stores slated to close by September 7, 2025, but the entire chain is at risk.
- Why Claire’s has struggled: The company has been hit hard by rising tariffs, inflation, shifting consumer behavior, and high debt
- Claire’s is seeking a buyer: Claire’s remains open in North America during restructuring and is actively seeking strategic and financial partners, with Houlihan Lokey advising the search
Claire’s future outlook:
- Short-Term (Next Few Months): Expect continued store closings, clearance sales, and liquidation if no buyer appears.
- Medium-Term (Late 2025 – 2026): Much depends on whether a going-concern buyer surfaces. Without this, full liquidation of North American operations is highly likely.
- Longer term: A purchase of the brand name after a liquidation sales could lead to a digital return as well a return to any profitable retail channels.
Related: Beloved convenience store chain faces permanent closure
