Overview

• Modella Capital and Gordon Brothers have emerged as potential bidders for Claire’s UK operations.
• Industry insiders warn a sale could close up to 90 stores in Britain and put hundreds of jobs at risk.
• Claire’s Stores Inc. is concurrently holding talks over a possible Chapter 11 bankruptcy filing.
• The UK arm has incurred £25 million in losses over three years and faces a £355 million debt repayment due December 2026.
• The global group operates around 2,300 stores and remains owned by Elliott Management and Monarch Alternative Capital.