Claire’s stores in Suffolk could be saved after bankruptcy.
An worldwide high-street retailer’s Suffolk stores may be preserved after the owners declared bankruptcy.
Claire’s, a fashion accessories retailer, has announced that it will sell 156 stores to investment group Modella Capital. The future of another 145 shops and over 1,000 employees remains unknown.
Claire’s has two locations in Suffolk: one on Westgate Street in Ipswich and another in Bury St Edmunds’ Buttermarket.
Interpath administrators said that the majority of Claire’s UK business and assets had been sold to investment group Modella Capital. Natasha Harbinson, managing director at Interpath, who led the sales process, said:
“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 continues to trade on high streets up and down the UK.” The investment company is also the new owner of WH Smith, which is rebranding as TG Jones.
The sale of the brand’s high street stores was revealed in January, and plans for the alterations have been filed to municipalities.
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