Fashion and accessories retailer Claire’s is on the brink of administration, putting dozens of jobs in Ireland at risk.
Claire’s is owned by Modella Capital, a private equity firm, which recently bought the high street arm of WH Smith – renamed TG Jones. A majority of Claire’s Irish and UK business assets were bought by Modella last September after parent company, Claire’s Holdings LLC, commenced Chapter 11 proceedings in the United States.
Modella said in a statement that the climate on UK high streets was “extremely challenging” and data suggested “an alarming drop-off in pre-Christmas footfall”.
Modella also owns the UK-based The Original Factory Shop chain. Modella said administration was the “only option” for…