{"id":25082,"date":"2026-01-02T06:48:40","date_gmt":"2026-01-01T22:48:40","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=25082"},"modified":"2026-01-02T06:48:40","modified_gmt":"2026-01-01T22:48:40","slug":"chinese-and-asian-suppliers-in-limbo-over-fashion-chain-claires-bankruptcy","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=25082","title":{"rendered":"Chinese and Asian suppliers in limbo over fashion chain Claire\u2019s bankruptcy"},"content":{"rendered":"<p><br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/cdn.i-scmp.com\/sites\/default\/files\/styles\/1280x720\/public\/d8\/images\/canvas\/2025\/12\/31\/7046b70d-cc63-4031-8fa8-5c31bb0cc30b_31ff1165.jpg\" \/><\/p>\n<div id=\"\">\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Despite the festive atmosphere of the holiday season, suppliers and creditors of US fashion accessories chain Claire\u2019s \u2013 including about 70 from Hong Kong, mainland China and across Asia \u2013 face financial anxieties as they grapple with the uncertain prospects of recovering debts following the retailer\u2019s recent bankruptcy filing.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Some have already taken legal action, though the outcome of their claims remains unclear.<\/p>\n<div datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1xdhyk6 ec74h0k0\">The financial anxieties stem from the company\u2019s decision in August to file for bankruptcy in the US for the second time in seven years amid <span data-qa=\"Component-Text\" class=\"css-0 ef9u0v00\">slowing consumer spending and the switch to online shopping<\/span>. The tween jewellery and ear-piercing retailer had nearly US$500 million in loans due by December 2026.<\/div>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">In September, Ames Watson, a privately held investment firm with a track record in revitalising iconic brands, acquired Claire\u2019s for US$140 million. Later that month, RSI International, Claire\u2019s Hong Kong-based sourcing office, sought to transfer \u201ccertain assets and liabilities in connection with the business\u201d to Tractus Asia, also based in Hong Kong, by October 31, 2025.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The move triggered an immediate legal fallout. Sebang Chain from South Korea \u2013 Claire\u2019s supplier for more than 30 years \u2013 and its two subsidiaries in Asia filed suit in Hong Kong\u2019s High Court against RSI and Tractus for allegedly refusing to pay overdue and pre-filing invoices and the asset transfer.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Sebang was facing US$1.5 million in overdue payments and about US$2 million worth of finished goods produced for Claire\u2019s, according to sources familiar with the matter. The amount is equivalent to about three months of Sebang\u2019s revenue. A writ of summons issued in late October sought US$1.43 million in unpaid balances, potential damages and interest.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Major US cosmetics vendor Pretty Woman filed a similar claim against RSI and Tractus for US$715,000 in outstanding receivables, according to a High Court filing in early October.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.scmp.com\/business\/companies\/article\/3338322\/chinese-and-asian-suppliers-limbo-over-fashion-chain-claires-bankruptcy?utm_source=rss_feed\" target=\"_blank\" rel=\"noopener\">Read Full Article At Source <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite the festive atmosphere of the holiday season, suppliers and creditors of US fashion accessories chain Claire\u2019s \u2013 including about 70 from Hong Kong, mainland&#8230;<\/p>\n","protected":false},"author":1,"featured_media":25083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[33],"tags":[2027,4097,4100,107,14909,354,9197,7051],"class_list":["post-25082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bored-interesting","tag-asian","tag-bankruptcy","tag-chain","tag-chinese","tag-claires","tag-fashion","tag-limbo","tag-suppliers","wpcat-33-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/25082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25082"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/25082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/25083"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}