The branches of American jewellery chain Claire’s are falling one by one. Now the Dutch branch has also filed for protection against creditors. The stores will remain open for now, but the question remains how viable they will be after the bankruptcy of the American parent company.
Solution sought
Claire’s Netherlands is not yet completely bankrupt, like the Belgian branch, among others: an administrator has been appointed to find a solution, Dutch media report. Still, things are not looking good for the nine stores, as the parent company has filed for bankruptcy in the United States under the Chapter 11 procedure.
The jewellery chain has been struggling with its finances for quite some time: in 2018, the company already went bankrupt, but was able to save itself thanks to a heavy restructuring. Seven years later, dark clouds are again gathering over the Illinois-based company, explicitly referring to Donald Trump’s import tariffs. The French branch was the first to go under, in July.
