Claire’s has filed for bankruptcy for the second time in seven years, citing nearly $500 million in debt and increased competition. Ames Watson is acquiring roughly 1,000 Claire’s stores in a $140 million deal to revive the brand, pausing the liquidation process. The company plans to update merchandising, enhance employee benefits, and implement new marketing strategies to connect with customers and retain the brand’s nostalgia. Ames Watson’s success with Lids is informing their approach to revitalizing Claire’s, focusing on product, experience, and people without compromising the brand’s essence. The co-founders aim to modernize Claire’s while preserving its unique charm and appeal to millennial moms and women who grew up with the brand. They hope the makeover will restore Claire’s as a prominent presence in malls across America, with profitability as a key goal.

Read more at CNBC: How Ames Watson is planning to reubild tween retailer Claire’s