Case filing & court posture: Claire's Holdings LLC filed for chapter 11 on August 6, 2025 in the District of Delaware. Dkt. 1 Judge Brendan Linehan Shannon presides over Case No. 25-11454.

Liquidity & financing path: The debtors obtained a $22.5 million DIP facility from AWS Claire's, LLC (the asset purchaser) at 5% PIK interest. Dkt. 16 The court entered an interim cash collateral order on August 7, 2025. Dkt. 82

Restructuring outcome: Assets were sold to AWS Claire's, LLC (an Ames Watson affiliate) for $104 million cash plus a $36 million seller note. Dkt. 427 The sale order was entered September 10, 2025, with approximately 700 store closures planned.

Plan effective date & post-confirmation: The First Amended Joint Chapter 11 Plan was confirmed on October 19, 2025, establishing a liquidating trust with META Advisors LLC as liquidating trustee. Dkt. 688 The plan became effective on November 10, 2025.

Current status: The liquidating trust continues to administer estate assets and pursue claims objections, with META Advisors managing wind-down operations and distributions to creditors under the confirmed plan.