Claire's Accessories Is Filing For Bankruptcy So Say Your Goodbyes
12 March 2018, 11:45
Where am I gonna buy my glitter hairspray and neon sweatbands from now?!
Say goodbye to your beloved, favourite childhood accessories store because it sounds like it's about to be over for Claire's Accessories as you know it.
According to Bloomberg, iconic accessories brand Claire's is currently $2 billion in debt (which is reportedly ten times greater than its annual earnings) and is now preparing to file for bankruptcy.
The brand closed over 150 locations in 2016 after suffering huge losses thanks to competition from stores like Forever 21 and H&M. And along with the fact that target audiences are now opting to shop online instead of getting in a car with their mum and hauling ass over to Claire's in their local mall to spend their pocket money stocking up on neon coloured accessories and blue eyeshadow, footfall in stores these days just isn't what it used to be.
Basically, what I'm trying to say here is: It's Gen-Z's fault. Don't @ me. It's a fact. Put down your Fenty products and start at the bottom like the rest of us had to.
There's been no announcement of any store closures in 2018 just yet though. If the brand does happen to file for bankruptcy, a number of stores will continue to stay open while the buyers figure out what's going to happen to the brand.
So if you need to get your ears pierced on the cheap, stock up on your fingerless fishnet gloves and glitter body paint or just feel the need to cry about your youth next to the statement necklaces then get your ass to a Claire's now before it's too late.
#RIPClaires, thanks for memories. x