Overview

• Claire’s UK & Ireland business submitted a Notice of Intention to Appoint Administrators on August 13 and has nominated Interpath’s Will Wright and Chris Pole as joint administrators
• The filing endangers roughly 281 high-street stores and more than 2,150 positions if no sale or rescue agreement is reached
• Administrators will assess options including a potential sale, liability restructuring or selective store closures over the coming weeks
• The move follows the US parent’s second Chapter 11 bankruptcy in Delaware, which lists between $1 billion and $10 billion in assets and liabilities and over 25,000 creditors
• Claire’s UK arm has logged about £25 million in losses over three years and saw potential buyers such as Hilco Capital withdraw amid online competition and rising import costs