Accessory chain Claire’s is also filing for bankruptcy in Belgium after its American parent company filed for protection from creditors. Some 100 jobs are threatened.
No longer viable
The hundred or so employees of Claire’s in Belgium were told Wednesday morning at a special works council that bankruptcy was being filed, reports RTL Info. The chain has about 15 stores in the country. Claire’s stores in Germany, Austria and Italy are also closing. In France, the company was already put into receivership by the court in Paris last week: takeover candidates have until September 19 to make an offer. In the UK, the chain is also exploring strategic options.
Its European operations no longer appear viable following the bankruptcy filing of its American parent company, which is burdened with heavy debt. The retailer sees increased competition from low-cost Chinese Web shops and fears the impact of U.S. import duties, as most of its products are imported from China.
