Claire’s has closed all 154 of its high street stores across the UK and Ireland.
Administrators overseeing the chain said that approximately 1,300 employees will lose their jobs as a result, reports Breaking News.
The decision does not impact the retailer’s 356 concession outlets or its head office operations.
The brand, known for selling jewellery, fashion accessories, and offering ear-piercing services, was originally established in the United States and expanded into Ireland in 2000 after entering the UK market in 1996, reports Breaking News.
It rapidly grew its presence on high streets but has faced increasing competition in recent years from low-cost online retailers.
The closures follow a move by private equity firm Modella Capital, which brought in Kroll earlier this year to manage the administration process, reports Breaking News.
Modella, which also owns businesses such as TG Jones and Hobbycraft, placed the company into insolvency after what it described as “alarming” poor performance during the Christmas trading period.
This marks the second time the retailer has entered administration within months, after Modella had previously acquired it out of administration in September of last year, reports Breaking News.
During that earlier process, Claire’s had already closed 145 stores, resulting in around 1,000 job losses.
A spokesperson for Kroll said: “As of April 27, all Claire’s standalone stores in UK and Ireland have ceased trading. All store employees have been advised of redundancy. We understand an interested party is in discussion with a number of landlords with a view to taking new leases for some of the sites,” reports Breaking News.
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