Jewelry and accessories retailer Claire’s is being put on the block by owner Elliott Management, according to a Bloomberg report that cites unnamed sources.
Claire’s sale is being led by investment bank Houlihan Lokey, the article said. The 2,300-store chain “faces mounting competition and higher import costs from U.S. tariffs,” Bloomberg wrote.
The report quoted a “pitch sent to potential buyers” that said the Hoffman Estates, Ill.–based retailer generated $1.3 billion in sales last year.
Bloomberg had reported last month that Claire’s would defer interest payments on its debt to conserve cash. The retailer needs to repay a nearly $500 million loan by December 2026, it said.
Elliott, Monarch Alternative Capital, and other company creditors purchased Claire’s in 2018, seven months after it filed for Chapter 11. Claire’s announced plans to go public in 2021, but later said it was postponing the IPO “in light of public equity market conditions.”
Claire’s did not respond to a request for comment by press time.
(Photo courtesy of Claire’s)
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