Accessories retailer Claire's Holdings LLC has signed a US$104 million deal to sell much of its North American business to turnaround specialist Ames Watson.
U.S. court documents show the deal reached with the private holding company covers both Claire's intellectual property and a "significant" quantity of stores and their inventory.
Claire's says in the filings that the deal will span at least 795 locations but could stretch to as many as 950.
The transaction is structured as US$104 million cash purchase plus a seller's note of US$36 million.
As part of the transaction, Claire's has paused the liquidation it began at many but not all of its stores.
The deal requires court approval in the U.S. and Canada, where the company filed for creditor protection earlier in the month because it was struggling with increased competition and the ongoing shift away from brick-and-mortar retail.
Ames Watson is based in Maryland and has owned or invested in Lids, Mitchell & Ness and Fanatics.
"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," said Lawrence Berger, co-founder of Ames Watson, in a press release announcing the deal.
This report by The Canadian Press was first published Aug. 20, 2025.
Tara Deschamps, The Canadian Press
