Business

Major high street retailer to sell 156 stores as part of rescue deal

By Miranda Pell

Copyright manchestereveningnews

Major high street retailer to sell 156 stores as part of rescue deal

Around 1,000 jobs are set to be saved as fashion accessories chain Claire’s has agreed to sell 156 shops. The company has announced that the 156 are set to be bought by investment group Modella Capital, however the future of 145 stores not included in the deal remains uncertain. Administrators at business consultancy firm Interpath said the majority of Claire’s UK business and assets had been sold to Modella, securing its future on British high streets. It comes after Modella, which recently bought WH Smith’s high street chain, reached a deal with the retailer’s US parent firm Ames Watson. 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.” Interpath said 145 Claire’s shops, which also offer an ear-piercing service, were not included as part of the deal, and will stay open as usual while it continues to assess options for them. The news comes after Claire’s announced it would appoint administrators for its UK and Ireland business in August, 2025, putting the retailer’s 306 high street stores – and a total of around 2,150 jobs – at risk. The jewellery and accessories retailer also filed a Notice of Intention to Appoint Administrators (NOI) but stores remained open and continued to trade as normal. It came after Claire’s – which has more than 2,700 stores globally – filed for bankruptcy in the US for the second time. Its staff were reportedly told not to let bailiffs enter stores to take anything, following its bankruptcy, the Mirror reports .