Claire’s Holdings LLC, the operator of Claire’s and ICING stores in malls and shopping centers across New Jersey and the U.S., has filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware, the company announced last week.
The voluntary proceedings, along with planned filings in Canada under the Companies’ Creditors Arrangement Act, are intended to allow the company to sell assets and explore strategic alternatives while continuing to operate its stores.
Claire’s CEO Chris Cramer cited increased competition, shifts in consumer spending, the move away from brick-and-mortar retail, debt obligations, and broader economic conditions as factors leading to the decision.
“This decision is difficult, but a necessary one,” Cramer said. “We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives.”
In the same press release, the company said Claire’s stores “will remain open.” However, court documents filed the same day identified 18 stores — five ICING stores and 13 Claire’s locations — across 13 states for potential closure, The Hill reported. These stores were previously described in the filings as locations that “should be exited.” The list includes one New Jersey location: Claire’s at Livingston Mall in Livingston.
The company emphasized that its other retail locations in North America — including Claire’s and ICING stores at New Jersey shopping destinations such as Rockaway Townsquare, Bridgewater Commons, Menlo Park Mall, Freehold Raceway Mall, Cherry Hill Mall, and Garden State Plaza — will remain open during the proceedings.
Through initial court filings, Claire’s said it intends to continue paying employee wages and benefits and to maintain relationships with vendors and landlords while the process unfolds.
Claire’s operates hundreds of retail locations across the U.S. and Canada, specializing in jewelry, accessories, and ear piercing services.
