Roughly three years after filing for Chapter 11 bankruptcy, Claire’s (Hoffman Estates, Ill.) has filed for an initial public offering (IPO), according to a filing with the U.S. Securities and Exchange Commission. The teen jewelry and accessories retailer has almost doubled its sales year over year during the first half of 2021.
Elliott Management (New York) and Monarch Alternative Capital (New York) took over Claire’s operations following its Chapter 11 and will continue to hold control over the company during its IPO.
As of now, Claire’s has 6 million loyalty members and has announced a new subscription box service. This subscription will feature an assortment of curated jewelry and accessories from the store. While Claire’s has announced a plan to put 150 million back into its business operations, it still carries $500 million in debt.