Claire's files for bankruptcy as competition bites

Accessories chain Claire's has filed for bankruptcy for the second time in the US due to declining sales and online competition impacting profits. The company operates over 2,750 stores in North America and Europe but has experienced store closures in the UK. The bankruptcy is attributed to increased competition, changing consumer spending habits, and the shift away from physical retail, with potential impact from trade tariffs and economic uncertainty. Claire's is seeking partnerships but faces challenges from online competitors like Shein and changing shopping behaviors, highlighting broader shifts in the retail industry.