Overview

• Claire’s UK and Ireland filed a Notice of Intention to appoint administrators on August 14, engaging Interpath’s Will Wright and Chris Pole as joint administrators.
• Stores across roughly 306 locations remain open and trading while administrators assess the chain’s future.
• The UK arm has logged losses of about £25 million over three years and faces a $500 million loan due next year.
• Earlier this month the US parent filed Chapter 11 in Delaware with assets and liabilities valued between $1 billion and $10 billion and over 25,000 creditors.
• Initial buyers, including Hilco Capital, withdrew interest as administrators consider sale, restructuring or controlled wind-down scenarios.