Claire's, the popular tween jewelry retailer, has filed for bankruptcy protection for the second time in seven years. The company cites declining sales due to inflation, shifting consumer spending habits, increased competition from online retailers, and higher tariffs on goods from China. Despite remaining open during the process, Claire's faces a nearly $500 million loan due in 2026 and struggles to compete with online giants like Amazon and Shein. The Canadian arm will also file for bankruptcy.

Prepared by Christopher Adams and reviewed by editorial team.