Up to 950 Claire’s stores will continue to operate in North America – but in a streamlined format, after the accessories retailer was sold to Ames Watson.
The private investment company announced last week it had completed the $140 million acquisition of Claire’s North American business operations. It has also tapped retail real estate advisory firm RCS to negotiate with landlords regarding the chain’s store network.
According to RCS, the company has finalized agreements to keep more than 800 Claire’s stores across the US and Canada, with the potential to reach 950. These include key stores in California, New York, Florida, Illinois and other major markets.
“With RCS’s guidance, Ames Watson will continue the beloved retail chain – best known for ear piercings and attainably priced tween and teen fashion accessories – in a streamlined format,” the firm said in a release.
Prior to the acquisition by Ames Watson, Claire’s was considering the liquidation of its entire 1500-store footprint in the region.
The company commenced voluntary Chapter 11 proceedings in the US and proceedings in Canada under the Creditors Arrangement Act early last month. This marked its second bankruptcy filing in recent years, with the first taking place in 2018.
In its latest filing, Claire’s listed assets and liabilities each ranging between $1 billion and $10 billion, as well as between 25,001 and 50,000 creditors. The chain was struggling with both internal and external problems, including high debt levels and tariffs.
Ames Watson, which owns and invests in brands such as Lids, Unrivaled Teamwear and Mitchell & Ness, said it will “modernize and revitalize” Claire’s by applying its playbook for reigniting beloved retailers.
The new owner plans to focus on exclusivity, customization, and cultural relevance, as it did when acquiring Lids in 2019.
“With elevated piercing offerings, refreshed merchandise, marketing, and store concepts, the goal is to make every Claire’s visit meaningful by creating experiences that cannot be replicated online and keeping the mall a destination for discovery and connection,” the company said.
