Modella Capital has acquired a total of 156 Claire’s UK stores out of administration in a deal which will see 145 stores close over a short trading period. Claire’s had been struggling for some time, losing market share to the likes of Shein and Temu. Around 1000 jobs have been saved, but a further thousand are now at risk.
Interpath managing director Natasha Harbinson said: “Following an agreement with Modella Capital and Ames Watson in the US in relation to the Claire’s brand, 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 & down the UK.”
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