Overview

• Sources report Modella Capital has agreed the outline of a transaction with Claire’s new US owner Ames Watson, positioning it to acquire the UK arm.
• Administrators at Interpath continue to trade roughly 278 UK stores and 28 in Ireland, covering about 2,100 jobs, while talks progress.
• Rival interest from figures including Touker Suleyman and HMV owner Doug Putman has been noted, though Modella is currently seen as leading.
• Modella has been a busy consolidator in UK retail, buying WH Smith’s high-street chain being rebranded as TG Jones, as well as Hobbycraft and The Original Factory Shop.
• The UK administration followed the US parent’s Chapter 11 filing, and the parties involved have declined to comment on the ongoing sale process.