Thousands of British and Irish jobs in limbo as Claire's set to go into administration
The company has announced plans to appoint administrators amid plummeting sales and intensifying competition from online retailers.
The US-owned fashion chain, which operates approximately 300 stores across Britain and Ireland, confirmed that insolvency specialists from Interpath Advisory are being brought in to assess the company's future.
While stores will continue to trade for now, the move signals a critical period of uncertainty for the business.
Claire's CEO Chris Cramer said the decision was 'difficult' but necessary as part of a broader strategy to preserve the brand's long-term value 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,' Cramer said.
He also expressed gratitude to staff, customers, and partners for their continued support during what he described as a "challenging period."
Interpath's chief executive Will Wright noted that the brand, best known for its trend-driven accessories and ear piercing services, still holds strong recognition in the UK market.
'Over the coming weeks, we will aim to keep stores operating as a going concern while evaluating strategic options, including a potential sale that could secure a future for this well-loved retailer,' Wright said.
This development follows Claire's filing for bankruptcy protection in the United States just last week.
The company revealed liabilities between $1 billion and $10 billion in its Delaware filing, citing a series of financial pressures, most notably, the waning interest from younger consumers and the shift away from traditional retail spaces.
Experts say the brand has struggled to keep pace with digital-first rivals like Shein, Temu, Amazon, and TikTok Shop, which can respond rapidly to trends and offer low-cost alternatives.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, commented that Claire's brand appeal has diminished among younger shoppers who prefer online platforms over brick-and-mortar stores.
Additional challenges facing the company include high import costs due to tariffs on goods sourced from Asia and the ongoing decline of foot traffic in physical shopping centres.
See More: Administration, Claire's, Job Losses
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