Claire's UK enters administration |
Claire's UK has entered administration, putting over 2,000 jobs and 300 stores at risk, a week after its US arm filed for Chapter 11 bankruptcy. Interpath Advisory will oversee operations while exploring options, including a potential sale. CEO Chris Cramer said the move aims to protect long-term value, citing competition, shifting consumer trends, debt, and macroeconomic pressures. The retailer has faced years of challenges, including tariffs, online retail growth, and rivals like Shein and Temu. Founded in 1961, Claire’s has 306 shops in the UK and Ireland. Hilco Capital is reportedly interested in acquiring the business. |
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