Claire’s, a mall staple for years, announced it will be closing 1,119 stores if it can’t find a buyer soon. The company filed for bankruptcy, for the second time, last week.
Many of the company’s stores on the closing list are in Florida, including the one in the St. Augustine Premium Outlets on State Road 16 near Interstate 95.
The Illinois-based company has 1,326 stores across the U.S. and is looking for a buyer for the remaining locations.
Claire’s is struggling as it faces competition from such fast-fashion brands as Shein and Temu, along with high rent costs, and new tariffs from supplier nations, including China, based on documents filed with the U.S. bankruptcy court in Delaware.
Here’s what you should know.
Claire’s planning to close 1,119 stores. Search list for Florida locations
A list of stores obtained by USA TODAY showed 1,119 stores could be closed, including 73 in Florida.
18 Claire’s and Icing closing no later than Sept. 7. Are any in Florida?
As part of the ongoing bankruptcy process, 18 Claire’s-owned stores are set to close no later than Sept. 7 across the country, with additional stores potentially added to the list, the company said in court records.
As of Aug. 11, no Florida locations were on the early-closing list.
Why did Claire’s file for bankruptcy?
“This decision is difficult, but a necessary one,” said Chris Cramer, CEO of Claire’s, said on Aug. 6.
“Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders.”
In court documents, Claire’s said the decision was based on “reduced foot traffic in stores, a rise in interest rates, inflation, tariffs, heightened competition from comparable retailers offering substantial discounts, and a disparitybetween inventory and customer demand.”
Claire’s, which is based in Hoffman Estates, Illinois, near Chicago, has continued to struggle since it first filed for bankruptcy in March 2018.
How many Claire’s locations are there in Florida?
According to Claire’s website, there are 74 stores in Florida.
What is Claire’s?
Claire’s was founded in 1961 and specializes in “fun fashionable jewelry and accessories,” especially targeting young girls through their teen-age years. It also offers “offering world-leading piercing services.” The company claims to have pierced over 100 million ears since 1978.
The company operates under two brand names: Claire’s and ICING in more than 2,700 stores in 17 countries.
This article originally appeared on St. Augustine Record: Claire’s could close more than 1,000 stores, including this one in St. Johns County
Reporting by Cheryl McCloud and Fernando Cervantes Jr., USA TODAY NETWORK / St. Augustine Record
USA TODAY Network via Reuters Connect
