Bankrupt 64-year-old retail chain faces millions in unpaid debt

Core Insights - Claire's, a retail chain known for affordable jewelry and accessories, is facing significant financial challenges, including doubts about its long-term survival after two Chapter 11 bankruptcies and numerous store closures [2][3] Financial Strain - The company is currently under new ownership by private equity firm Ames Watson and is dealing with claims from Asian suppliers alleging millions of dollars in unpaid debts [3][5] - The disputed orders for holiday merchandise were placed before Claire's second bankruptcy filing, during which the company was still owned by Elliott Management [4][8] Supplier Relations - Despite outstanding debts, some suppliers have continued to fulfill orders due to concerns about jeopardizing their business relationship with Claire's [6] - Ames Watson has stated that it was not involved in operational decisions prior to the acquisition and is focused on strengthening the business moving forward [7]