Accessory Retailer Claire’s search for creditor protection in Canada but stores will be open

Clair’s holdings LLC says it has filed for bankruptcy protection in the US and will soon follow the suit in Canada.

Accessories and cosmetics retailers say that it will file with the Ontario Superior Court under the arrangement of creditors of companies.

Claire stores will remain open in North America as it starts this process, which states that it will help muddy its property and allow it to detect strategic options for business.

Claire CEO Chris Cramer determined the decision to file for creditor protection but determined as difficult but necessary.

He says that the company took this step due to rising competition, consumer spending trends and brick-and-doer retail changes.

Claire was established in 1974 and has more than 2,750 Claire stores across 17 countries across North America and Europe. It is known to sell jewelry, cosmetics, goods to girls between the age of three and 18, and moved to the teenager for its ear-pilgrimage services.