In late August, Ames Watson acquired Claire's, a tween retailer that filed for bankruptcy for the second time in seven years, citing nearly $500 million in debt. The $140 million deal aims to revitalize the brand by focusing on merchandising, labor improvements, and marketing strategies. Ames Watson co-founders Tom Ripley and Lawrence Berger believe Claire's is a 'broken business, not a broken brand' and plan to modernize its offerings while preserving its nostalgic appeal. The revitalization will include updating product lines, enhancing employee training, and improving store experiences. The process is expected to take up to a year, with hopes of profitability from day one.