Claire's Dutch branch enters insolvency

The Dutch branch of the jewellery chain Claire's, Claire Netherlands B.V., has initiated insolvency proceedings and been granted a suspension of payments. This follows similar actions by the company's branches in the U.S., France, Belgium, and the UK in recent weeks. The Dutch website for Claire's is currently offline.

Although Claire's stores are currently remaining open, their long-term viability is uncertain, particularly in light of the American parent company's recent filing for Chapter 11 bankruptcy in the U.S..

Claire's, which is known for its jewellery and ear piercing services, has been struggling against a "cocktail of problems" including declining foot traffic, increased competition from online retailers and a shift away from brick-and-mortar retail.

This is the second time the company has filed for bankruptcy protection in seven years, having first emerged from Chapter 11 in 2018.

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