Claire’s Accessories to Close 145 Stores in UK and Ireland

Claire’s Accessories, a well-known retailer of fashion accessories, is set to close 145 of its stores across the UK and Ireland. This decision follows a recent rescue deal that allowed investment firm Modella Capital to acquire the majority of the company’s operations and assets. However, the deal only preserves just over half of the chain’s 300 outlets in the region, thereby putting approximately 1,000 jobs at risk.

The announcement came last week, revealing that the closures would significantly impact the high street presence of Claire’s. Across the island of Ireland, 20 stores will permanently shut down. The administrator, Interpath, stated that the remaining stores will remain operational for as long as possible while exploring other options. Nevertheless, clearance sales have already begun at some locations.

The closures follow Claire’s filing for bankruptcy in the United States and subsequently calling in administrators for its operations in the UK and Ireland last month. Modella Capital, founded in 2022, has quickly emerged as a notable player within the UK retail sector. Earlier this year, it also acquired the high street division of WH Smith and took over the arts and crafts chain Hobbycraft. Additionally, the firm has invested in the brand Ted Baker.

Natasha Harbinson, Managing Director at Interpath, expressed relief over the sale, stating, “We are pleased to confirm a sale of the majority of Claire’s UK business and assets, which will ensure this popular brand will continue to trade on high streets up and down the UK.”

As the final closure dates will vary by location, customers are advised to check with their local stores for specific information. The impact of these closures highlights the ongoing challenges faced by retail businesses in adapting to changing consumer behaviours and economic conditions.