By Steven Smith

Copyright ok

Fashion accessories retailer Claire’s has agreed to offload 156 outlets to investment firm Modella Capital, safeguarding approximately 1,000 positions, administrators have confirmed. Nevertheless, the fate of 145 stores excluded from the transaction remains unclear.

Administrators at Interpath revealed that the bulk of Claire’s UK operations and assets had been acquired by Modella, ensuring its continued presence on Britain’s high streets.

This follows Modella, which recently purchased WH Smith’s high street division, striking an agreement with the retailer’s American parent company Ames Watson.

Natasha Harbinson, managing director at Interpath who oversaw the sales procedure, said: “Following an agreement between 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 and down the UK.”

Interpath confirmed that 145 Claire’s outlets were excluded from the arrangement, and will remain operational as normal whilst it continues evaluating alternatives for them.