WASHINGTON (TNND) — Claire's, the mall staple for ear-piercing, jewelry and accessories, has filed for its second bankruptcy in seven years as the retailer works to compete with online shopping, mounting debt and uncertainty from tariffs.

The company filed for Chapter 11 bankruptcy protection in a federal court in Delaware on Wednesday, according to a news release.

"This decision is difficult, but a necessary one. Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire's and its stakeholders," Chris Cramer, CEO of Claire's, said in a statement.

The retailer added that its stores in Canada will also pursue similar bankruptcy proceedings and North American stores will remain open during the process.

In a court filing, Claire's said its assets and liabilities range between $1 billion and $10 billion.

Cramer said the company remains in "active discussions with potential strategic and financial partners" and intends to continue paying employees' wages and benefits.

Neil Saunders, managing director of GlobalData, a research firm, told The Associated Press that tariffs have pushed costs higher, and he believed that Claire’s is not in a position to manage this latest challenge effectively.

“Reinventing will be a tall order in the present environment,” he said.

Claire's, based in Hoffman Estates, Illinois and founded in 1974, operates more than 2,750 stores in 17 countries throughout North America and Europe and 190 Icing stores in North America.

Teen retailer Forever 21 filed for bankruptcy protection for a second time in March and eventually closed its doors, citing being unable to beat "fast fashion companies."

_____

Editor's note: The Associated Press contributed to this article.