Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Claire’s Accessories Spain, the Spanish subsidiary of the US accessories retailer, has entered liquidation following the bankruptcy of its parent company in the United States in September 2025. Claire’s Spain, founded in 2003 and active since 2005, once operated 116 stores employing 372 people as of January 2024, but this number has fallen drastically to around 12 outlets, most located in Madrid.
The brand, known for fashion jewellery, accessories, cosmetics, and ear-piercing services, is now under review to determine whether its Spanish operations can be sold or must close completely.
The Spanish collapse mirrors the broader international crisis triggered by the US parent company’s bankruptcy, caused by high debt, reduced consumer spending, and increased tariffs on Chinese imports. Following the US filing, Claire’s businesses in Canada, Germany, France, Austria, the UK, and Ireland also went into administration.
Eurofound (2025), Claire's España, Bankruptcy in Spain, factsheet number 203795, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203795.