Tween favorite Claire’s has filed Chapter 11 bankruptcy for the second time in seven years. If a buyer doesn’t step up, more than 1,000 U.S. stores will likely close — including the one at Westfield Montgomery mall. (Icing, a subsidiary of Claire’s, left the mall last year.) In addition to competition from the likes of Shein and Temu, Claire’s has been dealing with another problem: Piercing, once its signature draw, is now offered by many stores including Ulta and Lovisa. Claire’s has been quietly seeking a buyer for months, but retail analysts aren’t betting on a rescue.
