Claire's Accessories UK has submitted a Notice of Intention to Appoint Administrators, placing 281 shops throughout Britain and Ireland in jeopardy.
The jewellery and accessories retailer directors took this action to safeguard the business and its stakeholders whilst they assess future possibilities.
The high street chain, popular with teenagers for its affordable jewellery and accessories, operates more than 2,000 outlets worldwide.
The administration filing affects only the UK and Irish operations and does not impact the retailer's presence in other countries.
The move represents the latest challenge for the accessories specialist, which has faced financial difficulties previously.
Interpath consultants Will Wright and Chris Pole are set to be formally named as joint administrators within the next few days.
Following their appointment, all Claire's UK shops will stay open for business and maintain normal trading operations.
Staff members will continue in their current roles, and shoppers can carry on purchasing items in-store without disruption.
A major UK retailer could leave the high street | GETTY Chris Cramer, the company's chief executive said: "This decision, while difficult, is part of our broader effort to protect the long-term value of Claire's across all markets.
"In the UK, taking this step will allow us to continue to trade the business while we explore the best possible path forward."
The chief executive expressed appreciation for the support received during this difficult time.
Claire's is popular with teenagers for its affordable jewellery and accessories
| BBC"We are deeply grateful to our employees, partners and our customers during this challenging period," Cramer added.
The UK filing comes as Claire's American and Canadian operations have recently entered court-supervised restructuring processes.
In the United States, the bankruptcy court has given provisional approval to initial motions that will provide funding to complete Chapter 11 proceedings.
Claire's Canadian subsidiary is proceeding through the Companies' Creditors Arrangement Act in Ontario's Superior Court of Justice. Similar restructuring measures are currently in progress in Germany and Austria.
The retailer has been under the control of investment companies Elliott Management Corp and Monarch Alternative Capital LP following its 2018 bankruptcy filing.
Claire's Holdings LLC operates as a global fashion brand company, managing both the Claire's and Icing retail chains.
Britain's high streets have been hit by a wave of store and restaurant chain closures | gettyThe firm provides shopping experiences through owned and concession stores across North America and Europe, alongside operations in other international markets.
The administration announcement was made through Advanced Financial Network earlier today, with the company emphasising that the UK proceedings are separate from restructuring efforts elsewhere.
It still operates 2,750 stores in 17 other countries as well as 281 stores in the UK.