Claire's Accessories's future has been secure in a new deal pulling the business out of administration, which will see 156 of its stores saved and around 1,000 jobs saved.
Joint administrators from Interpath have announced a sale of "substantially most" of the company's business and assets to Modella Capital.
Modella Capital, which recently became the owner of WH Smith's high street business, will take over 156 Claire's Accessories stores in a win for Britain's high streets.
However, nearly 150 stores included in the beauty and accessory chain's retail portfolio will not be sold as part of the deal.
Claire's Accessories to sell 156 stores in administration deal with 1,000 jobs saved
|PA
Natasha Harbinson, the managing director at Interpath who led the sales process, broke down what this deal means for the future of Claire's Accessories going forward.
She explained: "Following an agreement between Modella Capital and Ames Watson in the US in relation to the Claire's brand, 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.
"In addition, we are also pleased to have secured a sale of the Claire's business in Switzerland. Discussions with other interested parties continue in relation to the Claire's entities in France, Italy and Poland."
In August 2025, Claire's UK was pushed into administration after its parent firm, Claire's Holdings LLC, initiated Chapter 11 proceedings in the United States.
The high street has been hit with store closures in recent months. | PASome 145 of the brand's stores are not included as part of the transaction.
However, these locations will remain open and will continue to trade while the joint administrators continue to assess options for their future.
Will Wright, Interpath's UK chief executive and joint administrator, added: "We'd like to express our sincere thanks to the thousands of Claire's dedicated employees, as well as suppliers and other key stakeholders, who have supported us throughout the administration process.
"Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available."
This latest development for high street retail in Britain comes after a multi-year period of widespread store closures.
According to the latest data from accountancy giant PwC, store closures in 2024 slipped to 12,804, which is the second lowest in a decade.
In comparison, there were 9,002 store openings over the 12-month period, which is an improvement from pre-pandemic levels.
As such, the net decline in stores shutting down shrunk by -1.8 per cent last year, which is the equivalent of 10 stores a day,
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High streets have been hit by a wave of store closures in the last 10 years | PAJacqueline Windsor, the head of Retail at PwC UK, said: "Our latest Store Openings and Closures insights indicate a cautious optimism for the retail sector.
"This creates opportunities for stakeholders to seize momentum and unlock growth by tackling market challenges and capitalising on evolving consumer behaviours.”
"Whether it be investing in technology to enhance the consumer experience or drive productivity improvements, 2025 could be a big year for retailers who are smart about how they play in the market."