Accessories and jewellery chain Claire's continues to scale back its international network. After filing for bankruptcy in the US this summer, Claire's has now added Spain to the list of markets affected by the group's global crisis. Spain thus joins the UK, Ireland, and other European subsidiaries that have initiated insolvency proceedings. This latest step comes just a few weeks after the company sold its North American business to the investment firm Ames Watson .

In Spain, Claire's Accessories Spain voluntarily applied for insolvency proceedings last September. As stated in the order issued by Madrid's Court No 12, the petition cites 'the inability to pay all debts falling due imminently' and 'the absence of refinancing', reflecting a state of insolvency, according to the online d

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