💔 Claire’s Accessories Hits a Roadblock 💔
Sad news for the high street: Claire’s Accessories has plunged into administration, putting over 150 stores and 1,000 jobs in jeopardy across the UK and Ireland. This includes stores in Wales from Cardiff to Swansea, and everywhere in between!
Kroll has been brought in to oversee the insolvency process, meaning the stores will stay open for now, but the future seems uncertain. This isn’t the first time Claire’s has faced financial difficulties, and it appears they’re not alone. Modella Capital, which also owns The Original Factory Shop, had to make the tough call to enter administration recently, too.
Despite efforts to keep things afloat, various challenges, including government policies and landlord pressures, have made it hard for these businesses to trade profitably. Insiders say that while emergency acquisitions helped last year, they just weren’t enough to secure long-term stability.
A spokesperson for Modella Capital expressed their disappointment, saying: “We’ve worked intensively to save both businesses, but administration became our only option. Legacy issues before our ownership left them vulnerable.”
Let’s hope for the best for all affected employees and that some sort of rescue plan emerges soon. 🌈💪 #SupportLocal #HighStreetStruggles