High street favourite Claire’s Accessories is set to close 145 stores across the UK for good, the retailer has confirmed. The announcement comes after administrators struck a deal earlier this week to sell 156 stores to investment group Modella Capital, saving around 1,000 jobs. Unfortunately, the remaining 145 stores were not included in the sale and are now scheduled to close permanently.
Shoppers at affected stores can already take advantage of closing-down sales, which began over the weekend and feature 20 per cent off everything as the accessories chain prepares to shut its doors for the last time. While exact closure dates vary by location, the shutters are expected to come down in the coming weeks.
Administrator Interpath Advisory said it had explored every option to find a buyer for the remaining sites but was left with no alternative but closure.
Will Wright, UK chief executive at Interpath, said: “Our intention is to continue to trade the remaining portfolio of stores for as long as possible, while we explore the options available.”
Claire’s UK arm entered administration on 13 August, just days after its US parent company filed for bankruptcy on 7 August. The American business has since been sold to a new owner, securing 950 US stores.
In the UK, Modella Capital stepped in to rescue part of the business, striking an agreement directly with Claire’s US owner Ames Watson to keep 156 stores open.
However, further closures and potential job losses could still occur as the investment group negotiates with landlords over rent and lease agreements. Staff have been told decisions will be made “as quickly as possible,” though uncertainty remains for many of the rescued sites.
Modella Capital boss Joe Price said: “As a firm, we strongly believe that this much-loved brand deserves the chance to remain on the high street in the UK and Ireland. The issues that Claire’s is facing are significant, and we will need to work collaboratively with all interested parties if our proposed rescue plan is to succeed.”
Modella Capital has been active in the UK retail sector this year, having previously acquired WHSmith’s high street outlets and rebranding them as TG Jones. The group also holds stakes in Hobbycraft, Paperchase, and Tie Rack, among others.
For shoppers hoping to grab a bargain, the final clearance sales across closing stores offer a last chance to stock up on Claire’s popular accessories before the brand disappears from many high streets.