Claire’s is closing two Charlotte area stores while grappling with bankruptcy
Claire’s is closing 10 stores in North Carolina, including two in the Charlotte area, as part of the jewelry and accessories retailer’s bankruptcy proceedings.
On Aug. 25, Claire’s filed a list of more than 290 stores, including both Claire’s and Icing locations, as part of its second Chapter 11 bankruptcy filing.
Claire’s North Carolina stores closing, according to court documents, are:
- Rivergate Shopping Center, 14141 Steele Creek Road, Charlotte
- Franklin Square, 2950 E. Franklin Blvd., Gastonia
- Randolph Mall, Highway 64 E., Asheboro
- Asheville Outlets, 800 Brevard Road, Asheville
- Asheville Mall, 3 South Tunnel Road, Asheville
- Boone Mall, 1180 Blawing Rack Road, Boone
- Alamance Crossing, 3176 Waltham Blvd., Burlington
- Crossroads Plaza, 420 Crossroads Blvd., Cary
- Park West Village, 3113 Market Center Drive, Morrisville
- Golden East Crossing, 1100 N. Wesleyan Blvd., Rocky Mount
The stores will be closed on a rolling basis, with some sales already under way.
There are still several stores that will remain open in the Charlotte Region: Charlotte Premium Outlets, SouthPark mall and Northlake Mall in Charlotte; Carolina Place mall in Pineville; Concord Mills and Concord Mall in Concord; Poplin Place Shopping Center in Monroe; Cleveland Mall in Shelby; Valley Hills Mall in Hickory; and Galleria Mall in Rock Hill.
About Claire’s bankruptcy and buyer
On Aug. 6, Claire’s Holdings LLC filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the District of Delaware. Claire’s has 2,300 stores in 17 countries, including a dozen in the Charlotte region.
By Aug. 20, the financially struggling chain asked the court to approve its $104 million sale to private equity firm Ames Watson, bankruptcy court filings show. Ames Watson will acquire between 795 and 950 of Claire’s North American stores, according to the court filing.
A sale hearing is set for Sept. 9.
The sale “will preserve thousands of jobs, provide continued business to many of (Claire’s) vendors and landlords, and will allow the Claire’s brand to remain a prominent retailer for teens, tweens, and young girls,” the filing said.
Claire’s said Aug. 20 it had paused the liquidation process at a significant number of stores, but for other stores in North America, the liquidation process would continue.
It’s the second time Claire’s has filed for bankruptcy since 2018, eliminating $1.9 billion in debt.
Claire’s CEO Chris Cramer cited increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, along with current debt, as reasons for filing for bankruptcy this month.
