By Anna Wise
Copyright independent
Fashion accessories retailer Claire’s UK has secured approximately 1,000 jobs following the sale of 156 stores.
Investment group Modella Capital acquired the majority of Claire’s UK business and assets, ensuring the brand’s continued presence on British high streets.
The future of 145 other Claire’s branches remains uncertain as they were not included in the deal.
Administrators Interpath confirmed the sale, which followed an agreement between Modella Capital and Claire’s US parent firm, Ames Watson.
The rescue deal comes after Claire’s US parent company filed for bankruptcy in August, citing declining demand from younger shoppers and intense competition from online retailers.
