Fashion accessories retailer Claire’s has entered administration in the UK and Ireland, placing around 2,150 jobs in jeopardy. The chain, which operates 278 UK stores and 28 in Ireland, has faced declining sales and mounting competition in recent years.
Despite the financial trouble, all stores will remain open for now as the company explores “the best possible path forward”. Administrators from Interpath Advisory will consider a range of options, including the potential sale of the business to safeguard the future of the “much-loved” brand.
Chief executive Chris Cramer described the move as a “difficult” but necessary step to keep stores trading during the process.
