For the second time in seven years, ear piercing mall staple Claire’s has filed for Chapter 11 bankruptcy.
The brand will be shutting down at least 18 storefronts.
There’s a dang good chance that you had your ears pieced at a Claire’s mall location in the ’90s or 2000s. Well, its 1,300-plus locations across America have continued to putter along for years after their original bankruptcy filing back in March of 2018.
Now, just a year before the $500 million loan they took out to cover costs is due in December 2026, USA Today reports that Claire’s has declared Chapter 11 bankruptcy trying to decrease their debt load and possibly regroup, or get sold.
According to the Delaware legal filings, Claire’s says that most of their locations will remain open during this process, but it has earmarked about 20 locations to shut down by October.
Claire’s also defaulted on rent payments for many of their locations in June and July of this year, leading up to this Chapter 11 bankruptcy filing.
One of the major issues that has sparked trouble for Claire’s business model as of late is the fact that the majority of their products come from China, and with new tariffs on goods coming from China, it’s becoming harder and harder for Claire’s to stay afloat and make a profit.
Sites like Shein and Temu have also hurt Claire’s bottom line, since the product is similar at a lower price, and can be shipped right to your home.
However, you can’t get your ears pierced at Temu and grab some Auntie Anne’s pretzels after.
What will happen come December 2026, when their $500 million debt is due? Claire’s will have to have a private equity firm purchase the business and cover the loan and debt, or they’ll close up shop and call it a day.
Chris Cramer, CEO of Claire’s, says: “We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives.”
Either way, if you need an ear piercing or Hello Kitty temporary tattoo, better head to Claire’s fast.
When Did the First Claire’s Store Open?
The first Claire’s opened in 1974, and starting in 1978, it was the hotspot for kids aged 3-18 to go and get their ears pierced right after they had lunch at the food court.
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