Unfortunately, Claire’s has filed for bankruptcy after the brand is said to be $2 billion in debt.
According to the Chicago Tribune, the brand’s debt is more than 10 times its annual earnings, making its sales far from profitable. And to be honest, it’s quite shocking. We could always count on Claire’s to pierce our ears, accessorize us during our kid and teen years and of course “crown us” for our b-day party sleepovers. At the time it seemed like the brand did a good job of taking all of our monies in these events. But clearly times are certainly different now, as we see a lot of popular children and teen brands trying to stay relevant in today’s youthful generation.
If only Khloe’s millionaire coins could have saved the brand from debt. Us '90s babies will certainly miss you, Claire’s!
(Photo by Brendon Thorne/Getty Images)
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