Claire's to appoint administrators for UK and Ireland business - putting thousands of jobs at risk
The move will raise fears over the future of 306 stores, with 278 of those in the UK and 28 in Ireland.
Sky News' City editor Mark Kleinman reported last week that the US-based Claire's group had been struggling to find a buyer for its British high street operations.
Prospective bidders for Claire's British arm, including the Lakeland owner Hilco Capital, backed away from making offers in recent weeks as the scale of the chain's challenges became clear, a senior insolvency practitioner said.
Claire's has now filed a formal notice to administrators from advisory firm Interpath.
Administrators are set to seek a potential rescue deal for the chain, which has seen sales tumble in the face of recent weak consumer demand.
Claire's UK branches will remain open as usual and store staff will stay in their positions once administrators are appointed, the company said.
Will Wright, UK chief executive at Interpath, said: "Claire's has long been a popular brand across the UK, known not only for its trend-led accessories but also as the go-to destination for ear piercing.
"Over the coming weeks, we will endeavour to continue to operate all stores as a going concern for as long as we can, while we assess options for the company.
"This includes exploring the possibility of a sale which would secure a future for this well-loved brand."
The development comes after the Claire's group filed for Chapter 11 bankruptcy in a court in Delaware last week.
It is the second time the group has declared bankruptcy, after first filing for the process in 2018.
Chris Cramer, chief executive of Claire's, said: "This decision, while difficult, is part of our broader effort to protect the long-term value of Claire's across all markets.
"In the UK, taking this step will allow us to continue to trade the business while we explore the best possible path forward. We are deeply grateful to our employees, partners and our customers during this challenging period."
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Claire's attraction has waned, with its high street stores failing to pull in the business they used to.
"While they may still be a beacon for younger girls, families aren't heading out on so many shopping trips, with footfall in retail centres falling.
"The chain is now faced with stiff competition from TikTok and Insta shops, and by cheap accessories sold by fast fashion giants like Shein and Temu."
Claire's has been a fixture in British shopping centres and on high streets for decades, and is particularly popular among teenage shoppers.
Founded in 1961, it is reported to trade from 2,750 stores globally.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
5 minutes ago
- Reuters
UK Q2 productivity 0.8% lower than a year earlier
LONDON, Aug 14 (Reuters) - British output per hour worked in the three months to June was 0.8% lower than a year earlier, the steepest annual decline since the third quarter of 2024, official figures showed on Thursday. Weak productivity growth has been a problem for Britain and many other Western economies for years and has become somewhat more sluggish since the COVID-19 pandemic. Britain's Office for National Statistics said output per hour worked in the second quarter of 2025 was 1.5% higher than in 2019. Output per worker has risen just 1.1% since then.
The Independent
7 minutes ago
- The Independent
What you need to know about Northern Powerhouse Rail plans
Northern Powerhouse Rail is reportedly set to be revived this winter, aligning with Labour 's commitment to enhance transport links and infrastructure in the North of England. Sir Keir Starmer and Chancellor Rachel Reeves are expected to announce details of the project before the Labour Party conference next month. The proposed railway aims to connect major northern cities from Liverpool to Hull, including Leeds, Bradford, and Sheffield, addressing long-standing criticisms of poor regional infrastructure. This move follows pressure from northern political and industry leaders who have advocated for the revival of the Manchester section of HS2 and the commencement of Northern Powerhouse Rail. The previous Conservative government had scaled back or cancelled significant rail projects in the North, including the HS2 extension to Manchester, citing budget overruns and delays.
The Independent
7 minutes ago
- The Independent
Former Treasury adviser says tax changes won't fix £50bn black hole
Labour's Rachel Reeves is facing criticism over potential inheritance tax reforms, including scrapping the "seven-year rule", aimed at addressing the UK's significant fiscal shortfall. Jonathan Portes, a former Treasury adviser, stated that while inheritance tax reform is needed, these changes would not generate the tens of billions required to fill the estimated £50bn black hole. Critics, including Tory shadow chancellor Sir Mel Stride and various tax experts, warn that the proposed changes could penalise working families, deter pension savings, and negatively impact economic growth. Concerns have been raised that the reforms could result in a larger portion of estates going to the Treasury rather than heirs, potentially discouraging wealth accumulation and investment. A spokesperson for HM Treasury emphasised the government's focus on economic growth to strengthen public finances and its commitment to keeping taxes low for working people.
