Shopping-mall staple Claire’s Holdings Inc. withdrew its initial public offering application, according to a filing late Friday. The specialty retailer, which has pierced the ears of millions of tweens and teen girls and sold them often-colorful jewelry, accessories and toys, filed to become a public company in September 2021. It listed mounting losses then but said it had identified opportunities for faster growth. Claire’s filed for bankruptcy in 2018, saddled with nearly $2 billion in debt and one of the many casualties of dwindling foot traffic in malls. It had been taken private nearly a decade earlier. In the filing Friday, the company did not say what led to its decision to withdraw, sharing only that “it has decided not to proceed with the offering at this time.” The IPO market has shown some green shoots in recent weeks, including the debut of three companies this week, but the results have been mixed.
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