Latest news with #Claire'sAccessories
Daily Mirror
a day ago
- Business
- Daily Mirror
NIAMH KIRK: Claire's was a glitter clad paradise - I'm sad tweens today won't experience it
Claire's Accessories parent company has filed for bankruptcy which means it could be the end of an era for Gen-Z and Millenials - but it's more than just the breakdown of bricks and mortar, and Niamh Kirk explains why Claire's Accessories, the purple glitter clad haven for any young teen looking to level up their hairclip, earrings or headband game, is under threat. If, like me, you hold the nostalgic feeling of walking into a Claire's store close to your heart, the news that this go-to tween spot is at risk of closure is met with shock and horror. The chain is facing an uncertain future on UK high streets after its US parent company filed for bankruptcy, but it's not the first time this has happened. Back in 2018, Claire's former parent company filed for bankruptcy in 2018 after being unable to repay a loan. It's no secret many high street big names are struggling, but there may be a deeper meaning behind the Claire's decline. For my 14-year-old self, Claire's was the hottest store on the high street, you could buy anything from a bright eyeshadow, a glittery lip gloss and an obscenely coloured hairspray, to a cheeky ear piercing if you were able to drag your parent along to sign the papers.
Wales Online
6 days ago
- Business
- Wales Online
Claire's Accessories faces uncertain future after owner files for bankruptcy
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Claire's Accessories faces an uncertain future on UK high streets after its US parent business filed for bankruptcy. US-based fashion accessories and jewellery business Claire's has filed for Chapter 11 bankruptcy in a court in Delaware, according to new filings. It is the second time the group has declared bankruptcy, after first filing for the process in 2018 after it was unable to repay a loan. The group saw its finances improve after wiping around 1.9 billion dollars (£1.4 billion) off its balance sheet in a refinancing but has come under pressure from recent weak consumer demand and supply chain uncertainty. Claire's runs 2,750 stores across 17 countries. It has around 280 stores in the UK. The new bankruptcy filings showed that the business reported liabilities and assets of between 1 billion dollars and 10 billion dollars. It also showed that the company owed more than 25,000 creditors. Join the North Wales Live WhatsApp community group where you can get the latest stories delivered straight to your phone The group is owned by a group of firms, including investment giant Elliott Management, who were creditors when the retail firm first faced insolvency seven years ago. Last month, Sky News reported that Claire's is working with advisers from Interpath to seek a potential sale or restructuring of its UK business. The report indicated that a sale deal could result in store closures across the UK. It also reported that Lakeland owner Hilco is among suitors considering a takeover deal for Claire's' UK operations. Sign up for the North Wales Live newsletter sent twice daily to your inbox
Irish Examiner
6 days ago
- Business
- Irish Examiner
Fears for Irish stores as fashion retailer Claire's Accessories files for bankruptcy in the US
The future of Irish outlets of fashion brand Claire's Accessories is uncertain after its US parent business filed for bankruptcy. US-based fashion accessories and jewellery business Claire's has filed for Chapter 11 bankruptcy in a court in Delaware, according to new filings. It is the second time the group has declared bankruptcy, after first filing for the process in 2018 after it was unable to repay a loan. The group saw its finances improve after wiping around $1.9bn (€1.64bn) off its balance sheet in a refinancing but has come under pressure from recent weak consumer demand and supply chain uncertainty. Claire's has around 18 stores across Ireland, with three stores in Cork alone, two each in Limerick and Kerry, eight stores in Dublin, and one each in Ennis, Waterford, Arklow, Bray, Galway, Sligo, Drogheda, Dundalk, Athlone, Mullinger, Newbridge and Kilkenny, with around 12 further outlets in the North. Oveall it runs 2,750 stores across 17 countries. The new bankruptcy filings showed that the business reported liabilities and assets of between $1bn and $10bn. It also showed that the company owed more than 25,000 creditors. The group is owned by a group of firms, including investment giant Elliott Management, who were creditors when the retail firm first faced insolvency seven years ago. Last month, Sky News reported that Claire's was working with advisers from Interpath to seek a potential sale or restructuring of its business, with Lakeland owner Hilco is among suitors considering a takeover deal.
North Wales Live
6 days ago
- Business
- North Wales Live
Claire's Accessories faces uncertain future after owner files for bankruptcy
Claire's Accessories faces an uncertain future on UK high streets after its US parent business filed for bankruptcy. US-based fashion accessories and jewellery business Claire's has filed for Chapter 11 bankruptcy in a court in Delaware, according to new filings. It is the second time the group has declared bankruptcy, after first filing for the process in 2018 after it was unable to repay a loan. The group saw its finances improve after wiping around 1.9 billion dollars (£1.4 billion) off its balance sheet in a refinancing but has come under pressure from recent weak consumer demand and supply chain uncertainty. Claire's runs 2,750 stores across 17 countries. It has around 280 stores in the UK. The new bankruptcy filings showed that the business reported liabilities and assets of between 1 billion dollars and 10 billion dollars. It also showed that the company owed more than 25,000 creditors. Join the North Wales Live WhatsApp community group where you can get the latest stories delivered straight to your phone The group is owned by a group of firms, including investment giant Elliott Management, who were creditors when the retail firm first faced insolvency seven years ago. Last month, Sky News reported that Claire's is working with advisers from Interpath to seek a potential sale or restructuring of its UK business. The report indicated that a sale deal could result in store closures across the UK.
Wales Online
6 days ago
- Business
- Wales Online
Bankruptcy means uncertain future for 280 Claire's Accessories stores in UK
Bankruptcy means uncertain future for 280 Claire's Accessories stores in UK It is the second time it's happened in recent years Fashion accessories chain Claire's has filed for bankruptcy (Image: Mike Egerton/PA) Claire's Accessories faces an uncertain future on UK high streets after its US parent business filed for bankruptcy. US-based fashion accessories and jewellery business Claire's has filed for Chapter 11 bankruptcy in a court in Delaware, according to new filings. It is the second time the group has declared bankruptcy, after first filing for the process in 2018 after it was unable to repay a loan. The group saw its finances improve after wiping around 1.9 billion dollars (£1.4 billion) off its balance sheet in a refinancing but has come under pressure from recent weak consumer demand and supply chain uncertainty. Claire's runs 2,750 stores across 17 countries. It has around 280 stores in the UK. The new bankruptcy filings showed that the business reported liabilities and assets of between 1 billion dollars and 10 billion dollars. It also showed that the company owed more than 25,000 creditors. The group is owned by a group of firms, including investment giant Elliott Management, who were creditors when the retail firm first faced insolvency seven years ago. Last month, Sky News reported that Claire's was working with advisers from Interpath to seek a potential sale or restructuring of its UK business. The report indicated that a sale deal could result in store closures across the UK. Article continues below It also reported that Lakeland owner Hilco is among suitors considering a takeover deal for Claire's' UK operations.
