Claire's Enters Agreement with Ames Watson to Sell IP and Significant Number of Stores in North America

HOFFMAN ESTATES, Ill., Aug. 20, 2025 /PRNewswire/ -- Claire's Holdings LLC ("Claire's" or "the Company") today announced that it has entered into an agreement with an affiliate of Ames Watson, a private holding company that purchases, transforms and partners with companies to create long term value, for Ames Watson to acquire Claire's business operations in North America.

Following its decision to commence voluntary Chapter 11 proceedings in the U.S. and proceedings in Canada under the Companies' Creditors Arrangement Act (CCAA) (together, the "Restructuring Proceedings"), Claire's has continued to explore every option to maximize the value of its business. The sale of these stores and Claire's IP to Ames Watson will significantly benefit the Company's efforts to create value through its Restructuring Proceedings.

As part of the agreement, Claire's has paused the liquidation process at a significant number of stores. For its other stores in North America, the liquidation process will continue. The sale is subject to approval by the Courts in the U.S. and Canada, and other customary closing conditions.

"As we continue through our restructuring proceedings, our team has worked tirelessly to explore every option for preserving the value of the Claire's business and brand," said Chris Cramer, CEO of Claire's. "We are glad to reach this definitive agreement to sell a portion of our North America operations to Ames Watson and maximize the value of our company for all our stakeholders. I would again like to extend my gratitude to every Claire's employee who has continued to show up for our customers during this challenging time for our business."

"We are pleased to have the opportunity to partner with Claire's and support the next chapter for this iconic brand," said Lawrence Berger, Co-Founder of Ames Watson. "Claire's has built a powerful emotional connection with generations of consumers through its focus on self-expression, creativity, and accessible fashion. We are committed to investing in its future by preserving a significant retail footprint across North America, working closely with the Claire's team to ensure a seamless transition and creating a renewed path to growth based on our deep experience working with consumer brands."

Claire's will continue to provide updates on the sale process through filings with the Courts in the U.S. and Canada.

Additional information regarding the Chapter 11 proceedings is available at www.omniagentsolutions.com/claires. Court filings and information regarding the claims process are available at www.omniagentsolutions.com/claires, by calling the Company's claims agent, Omni Agent Solutions, toll-free at (888) 202-5971 (U.S.) or (747) 293-0183 (International) or by sending an email to [email protected].

Additional information regarding the Company's CCAA proceedings and related court-filed materials is available at the court-appointed monitor's website at www.ksvadvisory.com/experience/case/claires, by calling KSV Advisory at +1 (844) 249-2665, or by emailing at [email protected].

Advisors
Kirkland & Ellis LLP is serving as legal counsel to Claire's. Houlihan Lokey is serving as investment banker, and Alvarez & Marsal is serving as restructuring advisor. Osler, Hoskin & Harcourt LLP is serving as Canadian legal counsel to Claire's. Paul Hastings LLP is serving as legal counsel to Ames Watson.

About Claire's Holdings LLC
Claire's Holdings LLC is a fully integrated, global fashion brand powerhouse committed to inspiring self-expression through the creation and delivery of exclusive, well-curated products and experiences. Through its global brands, Claire's® and Icing®, the company delivers an immersive, omnichannel shopping experience with owned and concession stores throughout North America and Europe as well as around the world. More information regarding Claire's is available at corporate.claires.com.

About Ames Watson
Founded by Lawrence Berger and Tom Ripley in 2018, Ames Watson is a privately held holding company based in Columbia, Md. which purchases, transforms and partners with companies to create long term value.  Ames Watson has over $2 Billion in annual revenue.  Brands owned or invested in by Ames Watson include Lids, LidsU, Unrivaled Teamwear, South Moon Under, Mitchell & Ness, Ebbets Field Flannels, Zygo, Hungry and Margaux.

Media Contact
Prosek Partners for Claire's
[email protected]

SOURCE Claire's