3 days ago
- Business
- South Wales Argus
The 8 Claire's stores in South Wales at risk of closing
Claire's revealed on Wednesday (August 13) that it had filed a Notice of Intention to Appoint Administrators ("NOI").
Interpath later confirmed Will Wright and Chris Pole had been appointed joint administrators.
The 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.
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This all comes after the US-based 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.
Chief executive of Claire's, Chris Cramer, 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.'
The UK high street shops that no longer exist
Claire's currently has 306 stores across the UK and Ireland - 278 in the UK and 28 in Ireland, while it has more than 2,150 employees.
All these stores and jobs are now at risk, following Wednesday's administration update.
Claire's stores in South Wales at risk of closing
There are seven Claire's stores in South Wales that are at risk of closing:
Cwmbran
Newport (Retail Park)
Cardiff (St. David's Dewi Sant) x2
Talbot Green
Bridgend (Outlet)
Swansea
Llanelli (Parc Trostre)
Claire's has revealed that for now, all its UK and Ireland stores will remain open and staff will stay in their current positions.
Interpath said Mr Wright and Mr Pole will be contacting all of Claire's employees in the UK and Ireland to 'provide further information about what the administration means for them'.
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Mr 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.'
