Is Claire's Private Equity Owned?
Claire's
Includes Claire's Stores, Claire's Accessories, Icing
accessories · Hoffman Estates, IL
Apollo Global Management
2007
“Apollo paid $3.1 billion for the place that pierced America's ears, then pierced it with debt — twice.”
What Happened
- •Apollo bought Claire's in a $3.1 billion deal in 2007, loading the company with roughly $2.4 billion in debt to finance the purchase
- •Filed for bankruptcy in March 2018 — the debt payments alone were consuming over $200 million a year while the company barely broke even
- •Filed for bankruptcy again in August 2025 — this time with over 1,100 stores at risk of closing across North America
- •Sold out of the second bankruptcy to Ames Watson Capital for just $140 million — about 4.5% of what Apollo originally paid
The Damage Done
- ▸Hundreds of mall locations closed during and after the first bankruptcy, leaving fewer options for the affordable accessories and ear piercings the chain was known for
- ▸Product quality and store upkeep declined as debt payments consumed the budget — customers noticed emptier shelves and dated store layouts
- ▸The second bankruptcy in 2025 put over 1,100 remaining stores at risk — though the new buyer committed to keeping at least 800 open
- ▸For millions of Americans, Claire's was a rite of passage — the place you got your first ear piercing. Two bankruptcies later, the experience is a shadow of what it was
Sources
Also owned by Apollo Global Management
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Frequently Asked Questions
Is Claire's owned by private equity?
Not anymore. Claire's was formerly owned by Apollo Global Management starting in 2007, but the firm has since exited. The effects of PE ownership often linger.
What happened to Claire's after the acquisition?
Hundreds of mall locations closed during and after the first bankruptcy, leaving fewer options for the affordable accessories and ear piercings the chain was known for Product quality and store upkeep declined as debt payments consumed the budget — customers noticed emptier shelves and dated store layouts
Who owns Claire's?
Claire's is owned by Apollo Global Management, which acquired it in 2007.