Claire’s Accessories to Sell 156 Stores in Rescue Deal with Modella Capital
Claire’s Accessories sells 156 stores to Modella Capital, saving around 1,000 jobs and securing its future in the UK.
Claire’s Accessories Strikes Deal to Sell 156 Stores
The well-known fashion accessories chain, Claire's, has reached an agreement to sell 156 of its stores to Modella Capital, a move that is expected to save approximately 1,000 jobs. This acquisition marks a significant step in securing the brand's future in the competitive UK retail landscape.
Future Uncertainty for Remaining Stores
While this deal ensures that the majority of Claire's UK operations will continue, the fate of the remaining 145 stores not included in the sale remains uncertain. Administrators from Interpath are still evaluating options for these locations, leaving a cloud of uncertainty hanging over them.
A New Chapter for Claire’s
Natasha Harbinson, managing director at Interpath, expressed optimism about the sale, stating, "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." This deal follows Modella's recent acquisition of WH Smith’s high street chain, showcasing their aggressive expansion in the retail sector.
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