Investment Firm Ames Watson Acquires Claire’s for $140M Following Bankruptcy

Worry no more, tweens, because Claire’s is back.

Claire’s, once a haven for older adolescents and younger teens to get their first ear piercings and buy the latest fashion accessories, has been acquired after filing for bankruptcy for the second time last month.

Investment firm Ames Watson has purchased the retail chain for $140 million, with plans to have a “smaller but stronger footprint,” according to a Friday announcement.

As part of the deal, Ames Watson will “modernize and revitalize” the Claire’s brand and keep at least 800 stores open, with the potential to reach 950, according to another release from RCS Real Estate Advisors, which arranged the deal. The outlets that will remain open include “key stores” in California, New York, Florida and Illinois.

“Claire's is one of those rare brands that defines a stage of life — old enough to buy your first lip gloss, but still young enough to believe it could change your world,” Lawrence Berger, partner and co-founder at Ames Watson, said in a statement. “The passion for this brand has been overwhelming, and we’re eager to include the community as we move forward.”

Ames Watson’s new strategy for the brand is to provide customers with “elevated piercing offerings, refreshed merchandise, marketing and store concepts,” as well as “create experiences that cannot be replicated online,” according to the firm’s announcement.

“Claire’s is more than just a retailer — it’s an iconic brand woven into the lives and memories of millions of shoppers,” Ivan Friedman, president and CEO of RCS Real Estate Advisors, said in a statement.

“By drawing on our deep landlord relationships and expertise in structuring win-win agreements, we helped preserve hundreds of stores, protect thousands of jobs and ensure that future generations can continue to enjoy the Claire’s experience,” Friedman added.

A spokesperson for Claire’s did not immediately respond to a request for comment.

News of the acquisition comes after Claire’s filed for bankruptcy in August in response to piling debt, increased competition, and “macroeconomic factors” such as tariffs, as Commercial Observer previously reported.

That came after Claire’s originally filed for bankruptcy in 2018 and cut its store footprint from more than 4,500 locations across the globe to about 2,750 stores as of August.

Isabelle Durso can be reached at idurso@commercialobserver.com.