Aug. 6 (UPI) -- Officials for retailer Claire's filed for bankruptcy protection on Wednesday as its operating costs rise while demand for its goods declines among its youthful customers.
A combination of tariffs on the mostly Chinese-produced goods sold by Claire's and inflation has cooled demand among its mostly youthful customers, according to NPR.
So has its distribution system of brick-and-mortar storefronts inside malls at a time when its traditionally youthful shoppers prefer buying goods online.
Illinois-based Claire's has a $500 million loan due for payment next year, but its declining revenues and profits endanger its stores in the United States and Canada.
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