Claire will keep more than 800 stores open and set up to close other stores.

Date:

play

As private equity firm Ames Watson officially announced the $140 million acquisition of the mall chain, 950 Clare locations will remain open, according to the company involved in the transaction.

RCS real estate advisors have finalized lease agreements with store owners, operating more than 800 locations and could reach contracts at up to 950 stores, the company said in a September 19 news release provided to USA Today.

The news rose from the $104 million valuation reported in August as Ames Watson officially announced Claire’s $140 million acquisition. Claire filed for bankruptcy that month, filling up her second bankruptcy in seven years.

Ames Watson said on September 19 that he will lead Claire with a “small but strong footprint,” further confirming that some stores are permanently closed. A court application on August 25 indicated that 291 stores would be closed as part of their business deal. The closing shop has 235 Claire locations and 56 icing stores, the latter categorized as the “adult” version of Claire.

Specifically, it was not immediately clear which locations would remain open.

Claire’s closure sparked protests

The announcement of bankruptcy leaves Claire fans with a light memory of the young shop.

Creator Angelina PJ recalled in her August TikTok video that she bought a friendship necklace at elementary school for each of her friend’s birthdays.

“This was the first place I had my earrings and I would always drag my mom here after elementary school and buy some pretty jewelry and hair accessories,” she said.

“Clair is one of the rare brands that define the stages of life. She’s old enough to buy your first lip gloss, but still young enough to believe that she can change your world,” says Lawrence Berger, partner and co-founder of Ames Watson.

Seeing the advancement of the popular mall chain, Ames Watson said it appears to fold into “elevated earring products” and “refreshed” products, marketing and store concepts.

“My passion for this brand is overwhelming and I’m keen to include the community as I move forward,” Burger said.

Gretacross is a national trend reporter for USA Today. Story ideas? Please email her gcross@usatoday.com.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

“I did it.” How much does gas cost under Trump vs. Biden?

Trump says Iran targets oil tanker, Iran war is...

Katie Couric talks aging, becoming a grandma and early cancer screening

Katie Couric talks about her breast cancer diagnosisKatie Couric...

The Pluto controversy, the Oscars, and the Iran war: A look back at the week

Gasoline prices soar as Strait of Hormuz closes due...

I had a perfect credit score. Here’s how to get it:

FICO includes Buy Now Pay Later loans on your...