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Modella Emerges as Frontrunner to Buy Claire’s UK and Ireland Stores

An outline pact with Ames Watson leaves a sale contingent on a separate agreement with Interpath.

Overview

  • Interpath continues to trade roughly 306 shops across the two markets as it assesses options.
  • Sources say Ames Watson has been seeking minimum financial guarantees from prospective buyers.
  • Modella has pulled ahead of rivals reportedly including Touker Suleyman and HMV owner Doug Putman.
  • The UK and Ireland estate employs about 2,100 people whose jobs depend on the outcome of the process.
  • Modella recently bought WH Smith’s high street chain, rebranding it TG Jones, and also owns Hobbycraft.