Claire’s Stores Slated for Closure

Claire’s, located inside Vineland’s Cumberland Mall, will soon close its doors, according to many industry experts and company statements. Claire’s has 24 other New Jersey stores, and all are slated for potential closure, according to court records.

USA TODAY reported that the large mall jewelry chain, which filed for bankruptcy for the second time on August 6, has identified a total of over 1,100 stores nationally that could close soon, and is looking for a buyer for about 800 remaining locations. The Illinois-based company  has 1,326 stores across the U.S.

In court filings published in USA TODAY, Claire’s CEO Chris Cramer disclosed that the company has recently solicited bids for its business and has received multiple letters of intent to purchase its assets. Claire’s would “stop the liquidation sales in the event of an actionable going-concern transaction and will continue to make every effort to effectuate such a transaction,” he said.

Despite some sales momentum in 2021, attempts by Claire’s to modernize in an e-commerce world has failed to re-energize the brand. Turnaround efforts over the past couple of years included expanding retail partnerships with companies such as Walgreens and Walmart, a loyalty program rollout, and investments in influencer-led content, according to CNBC.

“Claire’s was not immune from the continued trend away from brick and mortar and more recent macroeconomic challenges, including higher interest rates, labor costs and, most recently, tariffs,” the company said in the bankruptcy declaration. “While Claire’s took many steps over the last few years to address these and other challenges, it was not enough to overcome the obstacles.”

Nearby Claire’s outlets assumed to be closing are in Deptford, Moorestown, Mays Landing, Cherry Hill, and Blackwood.