Elliott Management-backed Claire’s has hired Kirkland & Ellis amid tariffs worries, according to 9fin sources.

Its $502m term loan B becomes current this December, and is currently indicated at 75 cents on the dollar, down from 80 cents a month ago.

Retailers have been roiled by President Trump’s Liberation Day announcement on 2 April, and many were already contending with lingering Covid-19 impacts on in-store traffic, rising prices, and increased e-commerce competition.