By Rachel Williams

Copyright dailyrecord

Struggling retailer Claire’s Accessories has narrowly avoided falling into administration. The new deal will see thousands of jobs saved, although multiple stores will be closed. The high street staple called in advisors back in July to help with a last-ditch rescue plan , as it was facing an outstanding loan payment of $480million (£355million) that was due in December 2026. Joint administrators at Interpath have now confirmed that it has sold “substantially most” of the firm to Modella Capital, the same firm that owns TG Jones, Hobbycraft and The Original Factory Shop. The transaction will see 156 Claire’s Accessories stores across the UK and Ireland continue trading and transfer over to Modella Capital ltd, saving around 1,000 jobs in the process. However, the transaction does not include a total of 145 stores that will remain open and continue trading while the joint administrators continue to assess options for them. Natasha Harbinson, managing director at Interpath who led the sales process, 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. “In addition, we are also pleased to have secured a sale of the Claire’s business in Switzerland. Discussions with other interested parties continue in relation to the Claire’s entities in France, Italy and Poland.” Will Wright, Interpath’s UK CEO and joint administrator, added: “We’d like to express our sincere thanks to the thousands of Claire’s dedicated employees, as well as suppliers and other key stakeholders, who have supported us throughout the administration process. Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available.” The popular jewellery and accessories chain was placed into administration on August 13, 2025 after its parent company, Claire’s Holdings LLC, filed for Chapter 11 bankruptcy in the United States. Primarily targeted towards the younger and tween-girl generations, Claire’s became a popular go-to for vast selection of jewellery, accessories, and toys, as well as its popular ear piercing service. At the height of its popularity, the retailer , which originated in Chicago in 1961, was said to have operated a total of 3,469 stores across 37 countries, with a total of 278 in the UK alone. After initially collapsing into administration earlier this year following its outstanding loan repayment, the retailer’s website was closed to online shopping , with customers unable to seek refunds at the time. However, following news of its sale to Modella Capital ltd, the Claire’s Accessories website seems to be back up and running, although it doesn’t look to be open for any sales at the moment. It marks the second time that the accessories firm has been saved from collapsing, as previously filed for bankruptcy in 2018 in America following a decline in sales. News of Claire’s Accessories being saved from collapse comes just after the news of another US-founded firm potentially closing down some stores in the UK. Coffee chain Starbucks, which operates around 520 UK stores, is said to be making “some” closures following a global review of its estate, with most closures affecting North America.