Future of chain Claire's on UK high streets uncertain after US parent firm files for bankruptcy
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FASHION accessories chain Claire's is facing an uncertain future on UK high streets, after its US parent firm filed for bankruptcy.
It is the second time the ear-piercing favourite has declared itself bust, after previously filing for bankruptcy in 2018.
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Claire's is facing an uncertain future after its parent firm filed for bankruptcy
Credit: AFP
Its finances are now under pressure from weak consumer demand and supply chain uncertainty.
The filings showed that the parent business reported liabilities of up to $10billion (£7billion) and owed between 25,000 and 50,000 creditors.
Claire's operates 2,750 stores worldwide, including 280 in the UK.
While British stores remain unaffected for now, the UK arm has lost £25million over the past three years and is at risk of collapsing into administration later this month.
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It has been working with advisers to explore a sale or restructuring.
However, potential buyers, such as Hilco Capital, are understood to have walked away.
Retail experts say Claire's is struggling to stay relevant.
Julie Palmer, from Begbies Traynor, said: 'Claire's low-price offering is clearly not strong enough to win over its core customers — teens and young adults — as they now have access to a vast array of affordable and convenient products online through platforms like Amazon and Temu.'
Claire's boss Chris Cramer said: 'We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives.'
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'CORE BLIMEY!
MINING giant Glenciore has decided to stick with its London stock listing, scrapping plans to shift to New York, in a win for the City.
It has been listed on the FTSE since 2011, when it was valued at £37billion — at the time the exchange's largest float.
However, the Swiss-based firm has announced plans to slash £753million in costs by 2026, including job cuts across its 150,000-strong workforce.
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METRO BANK has bounced back, posting a £43.1million pre-tax profit for the first half of 2025 — up from a £33.5million loss reported in the same period last year.
The lender doubled new corporate and small business loans to £1billion, and cut 8 per cent from its costs by axing a third of its workforce and reducing branch hours.
Boss Daniel Frumkin said: 'Our strong performance reflects the decisive actions we have taken.'
Elsewhere, Sabadell shareholders have approved the £2.65billion sale of TSB to Santander.
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