Claire's history dates back to 1961. After becoming a mall staple in the '90s, the retailer has fallen on hard times and announced US store closures.

Mall-based teen retailer Claire’s, known for helping to usher teens into a key rite of passage _ ear piercing _ but now struggling with a big debt load and changing consumer tastes, filed for Chapter 11 bankruptcy protection.

The jewelry and accessories retailer catered primarily toward tween and teen girls is feeling the pinch from shifting consumer habits and larger economic trends.