Behind its glittery facade, Claire’s is a financial mess. The tween retail icon behind millions of ear piercings and Y2K accessories filed for bankruptcy in August 2025, closing hundreds of stores and selling its North American business for just $104 million. So how does a brand with $1.4 billion in global sales end up with […] Behind its glittery facade, Claire’s is a financial mess. The tween retail icon behind millions of ear piercings and Y2K accessories filed for bankruptcy in August 2025, closing hundreds of stores and selling its North American business for just $104 million. So how does a brand with $1.4 billion in global sales end up with more than $500 million in debt?