It has been revealed that 156 Claire’s stores have been saved in a rescue deal.
Modella Capital, which bought the troubled WH Smith stores, has agreed to buy over half of the fashion accessories firm’s high street stores.
It means around 1,000 jobs have been saved but some UK stores are still at risk of closure.
145 stores are not included as part of the transaction. The stores will remain open and will continue to trade while the joint administrators continue to assess options for them.
No list of the saved stores has been released.
Claire’s has branches in Kendal, Carlisle and Workington.
Natasha Harbinson, managing director at Interpath who led the sales process, said: “Following an agreement between Modella Capital and Ames Watson in the US in relation to the Claire’s brand, we are pleased to confirm a sale of the majority of Claire’s UK business and assets which will ensure this popular brand will continue to trade on high streets up and down the UK.
The company was placed into administration on August 13 after its parent company, Claire’s Holdings LLC, commenced Chapter 11 proceedings in the United States.
Will Wright, Interpath’s UK CEO and joint administrator, added: “We’d like to express our sincere thanks to the thousands of Claire’s dedicated employees, as well as suppliers and other key stakeholders, who have supported us throughout the administration process.
“Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available.”
