Claire's, also known as Claire's Accessories, was once a rite of passage for every teenage girl. No outfit for a night out (or even some nights in) was complete without a little something from Claire's to set it off. 'Accessories' under Claire's definition could include anything from belts to bracelets to earrings; including having your ears pierced so you could wear the rings. It set up shop in 1961 and had been successful ever since; until around early 2017.
The cause of its struggles is the same old story; increased competition, inability to drop prices as low as internet retailers, and downturn in customers visiting high street stores. The inevitable happened in March 2018 when Claire's filed for Chapter 11 bankruptcy in an attempt to deal with its uncontrolled debts, which by that point were in excess of $1.9bn. Two months later it had shut down 130 stores and was looking for a buyer.