Claire's: A Familiar Fall from Grace in Fashion Retail

U.S.-based fashion jewelry retailer Claire's has filed for bankruptcy protection for the second time since 2018, highlighting financial struggles despite managing over 2,750 stores globally. Supported by Elliott Management and Monarch Alternative Capital, the company's assets and liabilities are estimated between $1 billion and $10 billion.

On Wednesday, Claire's, a renowned name in fashion jewelry, entered bankruptcy protection for the second time since 2018, as disclosed in U.S. court documents.

The company estimates its assets and liabilities in the range of $1 billion to $10 billion, indicating significant financial distress. This comes despite operating over 2,750 stores across 17 countries in North America and Europe.

Backed by investment firms Elliott Management and Monarch Alternative Capital, Claire's struggles underscore the persistent challenges in the retail sector.

(With inputs from agencies.)