Overview
- Interpath confirmed the sale of substantially most of Claire’s UK and Ireland business and assets to Modella, covering 156 stores.
- About 145 UK locations were excluded from the deal and will keep trading under administrators while options are assessed.
- Modella has secured the licence to operate the Claire’s brand in the UK and Ireland from Ames Watson.
- The buyer warned that some closures and job losses are likely after it reviews leases and negotiates with landlords.
- Claire’s UK entered administration in August following its US parent’s Chapter 11 filing, as Modella expands its high-street portfolio including WH Smith’s high-street arm and Hobbycraft.