Claire's, an accessories and jewellery chain that was once a go-to store for tweens in its heyday, is seeking creditor protection in the United States and will soon do the same in Canada. The release added that Claire's affiliate operating stores across Canada also intend to begin proceedings under the Companies' Creditors Arrangement Act (CCAA) in the Ontario Superior Court of Justice. According to the company, the process will allow Claire's to monetize its assets and explore strategic alternatives that could keep it from going into receivership or bankruptcy. Claire's stores across the U.S. and Canada will remain open while the company goes through this process. It also filed for creditor protection in 2018, when it had over 4,500 stores worldwide.