More than 2,100 jobs are in jeopardy as jewellery and accessories retailer Claire’s prepares to enter administration, with the appointment of Interpath Advisory expected as soon as Wednesday afternoon.
Chief executive Chris Cramer said the move is aimed at keeping the company operational while it seeks a buyer.
Claire’s operates 306 stores across the UK and Ireland, employing 2,150 staff. “This decision, while difficult, is part of our broader effort to protect the long-term value of Claire’s across all markets,” Cramer noted.
Interpath’s Mr Wright said the focus in the coming weeks will be on continuing to operate stores as a going concern for as long as possible while assessing strategic options for the business.
Claire’s has confirmed that UK store staff will remain in place for now and customers can continue shopping in-store, even as the retailer moves towards appointing administrators. The process raises concerns that thousands of jobs could ultimately be lost given the company’s strained finances.
Management has warned store managers that bailiffs may soon arrive to recover debts. The retailer has been scrambling to conserve cash ahead of a $480m (£355m) loan due in December 2026 and has posted £25m in losses over the past three years, according to Companies House filings.
The UK arm’s troubles follow its US parent’s second bankruptcy filing since 2018, earlier this month, and come after Claire’s French business, with 239 stores, entered receivership in July. Claire’s said the move into administration forms part of a broader effort to restructure and safeguard long-term value.
