NEW YORK -- Claire's, the jewelry chain that has pierced the ears of millions of teens, has filed for Chapter 11 bankruptcy protection in the U.S. but its Canadian and European stores are not involved. “Claire’s is growing, not shrinking, its business — the company expects its concessions business to grow by more than 4,000 stores in 2018.”

Claire’s further noted that it “continues to be the world’s leading ear piercer,” having punctured 3.5 million in fiscal 2017 in the United States alone and another 100 million worldwide. After months of speculation, teen mall staple Claire’s Stores Inc. today pulled the trigger, filing for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. In announcing its bankruptcy filing, the company said that “unlike other retailers that have come before it, Claire’s has commenced its restructuring process from a position of unique operational strength.” It added that it was enabling the Chapter 11 process to “effectuate a balance sheet – not an operational – restructuring.”

The company said that it had no plans to shutter its retail operations during the bankruptcy process.
After struggling with debt from a leveraged buyout, Claire's files for chapter 11 bankruptcy in the United States. The company has issued a statement that it expects its stores to remain operational while it restructures its debt.