Overview
- Court records show notices of intention to appoint administrators were filed for both chains on Monday, providing temporary protection from creditors.
- Kroll is reported to be lined up to oversee Claire’s, while Interpath is expected to handle The Original Factory Shop.
- Sources indicate shops are likely to keep trading during the process as administrators explore potential buyers.
- About 1,355 roles at 154 Claire’s stores in the UK and Ireland and roughly 1,220 roles at 140 TOFS locations are at risk.
- Both retailers were bought by Modella in rescue deals last year, with pressures highlighted by Sensormatic data showing a 13.1% year-on-year footfall drop on December 23.