Claire's with 26 NJ stores, field second bankruptcy
By: Daniel Munoz
NorthJersey.com
USA Today Network - New Jersey
..... Clair's the franchise offering jewelry, piercing, fashion and accessories to tweens and teens, field for bankruptcy on Augest 6 [2025] for the second time in less than a decade.
..... The chain, ubiquitous at malls in New Jersey and across the country, filed for Chapter 11 bankruptcy protection in Delaware federal court, with CEO Chris Cramer citing "increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail."
..... The 64-year-old chain had a $496 million loan due in December 2026, CNN reported and did not pay rent at certain unprofitable stores, Bloomberg News said.
..... It initially filed bankruptcy in 2018, and as a result of the process was able to eliminate $1.9 billion in debt and was taken over by creditors Elliott Management Corporation and Monarch Alternative Capitol.
..... The North American stores will remain pone while Claire's "continues to explore all strategic alternatives," including a possible sale, the company said in an August 6 [2025] statement.
..... Claire's operates 2,750 stores across North America and Europe, including 26 in New Jersey, its website says.
..... According to bankruptcy filings, Claire's had between $1 billion and $10 billion in debt, as well as in assets. the chain has between 25,001 and 50,000 cr4editors.
.....
Between November 2024 and April 2025, the firm sourced 70% of its investor from outside the U.S. - "largely in mainland China, as well as in Vietnam, Thailand, Cambodia, Bangladesh, Taiwan and India," court filings read.
..... That has become a problem amid President Donald Trump's on-again, off-again tariffs on foreign imports, which upended global supply chains and risked price increases on the store shelves.
..... Clair's had been hounded by its debt levels and inability to service daily operation, said Neil Saunders, a retail analyst and managing director of GlobalData.
..... Competition mounted from Amazon and in-person chains like Lovisa that offer "younger shoppers a more sophisticated assortment at value prices." Some locations saw business decline at malls where foot traffic has fallen, and may ultimately shut down.
Where are the New Jersey stores?
..... these are the 26 Clair's stores in New Jersey:
* American Dream, East Rutherford
* Bergen Town Center, Paramus.
* Bridgewater Commons, Bridgewater
* Brunswick Square, East Brunswick.
* Cherry Hill Mall, Cherry Hill.
* Cumberland Mall, Vinland .
* Deptford Mall, Deptford.
* Freehold Raceway, Freehold.
* Garden State Plaza, Paramus.
* Hamilton Mall, Mays Landing
* Jersey Gardens, Elizabeth.
* Jersey Shore Premium Outlet, Tinton Falls.
* Livingston Mall, Livingston.
* Menlo Park Mall, Edison.
* Moorestown Mall, Morrestown.
* Newport Centre, Jersey City.
* Ocean County Mall, Toms River.
* Paramus Park, Paramus.
* Quaker Bridge Mall, Lawrence Township.
* River Front Center, Clifton.
* Rockaway Townsquare, Wayne.
* Tanger Gloucester Premium Outlets. Blackwood.
* Walmart, Deptford.
* East Broad Street, Westfield.
* Woodbridge Center, Woodbridge.
* Willowbrook Mall, Wayne.
What is a Chapter 11 bankruptcy?
..... A Chapter 11 bankruptcy does not necessarily mean the company is doomed to go under. It's a process that some but not all companies survive.
..... During a bankruptcy process, the company "usually proposes a plan of reorganization to keep its business alive and pay creditors over time," the U.S. courts website says.
..... Claire's joins a long list of brick-and-mortar stores that have recently shut down or drastically curtailed operations.