What happened? Cherished American brand Claire’s permanently closes in Hungary

The liquidation of Claire’s was confirmed by the report of its Hungarian subsidiary, after the parent company had already declared bankruptcy in August 2025. The process quickly affected Hungary as well, where liquidation proceedings were launched in the same month.

All stores have permanently closed

The closure of Claire’s in Hungary has now been completed: all domestic stores have shut down, and the retail spaces have been taken over by new tenants. The company handling the liquidation also confirmed that Claire’s stores have definitively ceased operations.

The process did not happen overnight. Although it initially seemed that international difficulties would not directly impact Hungary, the entire network eventually closed, including those located in shopping centres across the country. We previously reported on where the newest shopping centre near Budapest will open, here.

The outcome was already decided in 2025

Serious financial difficulties lay behind the decision. Liquidation proceedings against the Hungarian subsidiary began in August 2025, following the parent company’s bankruptcy.

The closure of Claire’s in Hungary is particularly notable because the company did not own any property, with all stores operating in leased premises.

The remaining inventory is currently being sold off through public tenders and auctions.

A global collapse

The closure of Claire’s is part of a wider international crisis. The brand has experienced significant decline worldwide: 154 stores are closing in the United Kingdom and Ireland, while more than 1,300 outlets are shutting down in the United States.

One of the company’s biggest challenges was its debt, as it could no longer manage its substantial liabilities, including a $500 million loan, which directly contributed to Claire’s closure in Hungary as well.

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Online giants outcompeted the shopping centre favourite

According to HVG, one of the main reasons for the collapse was the shift in consumer behaviour. The rapid growth of online shopping, along with ultra-low-cost platforms, created intense competition.

Players such as Temu and Shein significantly undercut traditional retailers, making Claire’s closure almost inevitable.

It is particularly striking that the brand had recently posted solid results: in 2023, it generated nearly HUF 1.6 billion in revenue and profit.

The end of an era for teenagers

Founded in 1961, the brand had long been a defining feature of shopping centre culture. With its jewellery, colourful accessories and ear-piercing services, generations grew up with it.

Claire’s entered the Hungarian market in 2010 and quickly became popular—making the chain’s closure all the more surprising.

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