On September 30, 2025, the fate of Claire’s, the well-known fashion accessories retailer, took a dramatic turn as a rescue deal secured the future of more than half its UK and Ireland stores—but left a thousand jobs and 145 shops hanging in the balance. The deal, orchestrated by administrators at Interpath, saw investment group Modella Capital swoop in to acquire 156 stores and safeguard around 1,000 jobs. Yet for the remaining stores and their staff, uncertainty persists as the retail chain grapples with the aftershocks of its recent collapse.
Claire’s, a familiar presence on British high streets and in shopping malls, had entered administration in the UK and Ireland on August 13, 2025, after its US parent company, Claire’s Holdings, filed for bankruptcy. The move put 2,150 jobs at risk, sending shockwaves through the retail sector and among the company’s loyal customers. According to the BBC, the sale to Modella Capital secures “substantially most” of Claire’s UK operation, but the remaining 145 stores—and the livelihoods of about 1,000 employees—remain in limbo as administrators continue to trade the stores while exploring their options.
“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,” said Natasha Harbinson, managing director at Interpath, who led the sales process, as reported by TRB. The sale includes about 1,000 staff working across the UK and Ireland stores, who will transfer to the new owner, Modella Capital.
The rescue deal comes at a time of immense upheaval for the retail sector, especially for brands reliant on mall and High Street locations. Shifting consumer habits, the relentless rise of online shopping, and soaring operational costs have put pressure on even the most established names. For Claire’s, the partial rescue underscores both the brand’s enduring appeal and the harsh realities facing many brick-and-mortar retailers in 2025.
Modella Capital, the new owner of Claire’s UK and Ireland stores, has been making waves in British retail circles. The investment group recently bought WH Smith’s high street chain, which is currently being rebranded as TG Jones, and previously took over the arts and crafts retailer Hobbycraft. By adding Claire’s to its portfolio, Modella cements its position as a significant player in the sector, with interests spanning from stationery to accessories to crafts.
The deal was not without its complications. The 145 Claire’s shops not included in the transaction—representing nearly half of the retailer’s UK footprint—will remain open for now, but their future is far from certain. Interpath’s UK chief executive and joint administrator, Will Wright, acknowledged the challenges ahead: “Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available.” He also expressed gratitude to the thousands of Claire’s dedicated employees, suppliers, and stakeholders who have supported the business throughout the administration process.
The uncertainty extends beyond the UK and Ireland. While the sale of Claire’s business in Switzerland has been secured, discussions are still ongoing regarding the retailer’s operations in France, Italy, and Poland. The administrators are actively seeking buyers or alternative solutions for these European entities, hoping to avoid further closures and job losses.
Across the Atlantic, the situation has been equally turbulent. In August 2025, Claire’s sold its North American business to private equity firm Ames Watson for $104 million, a move that was accompanied by the closure of 290 US stores. The sale was part of a broader effort to restructure the company and stabilize its finances after filing for bankruptcy protection under Chapter 11 in the United States.
The collapse of Claire’s UK and Ireland business into administration was a stark reminder of the fragility of many traditional retailers in the current economic climate. As reported by BBC, the rescue by Modella Capital provides a lifeline for more than half of Claire’s UK operation, but the fate of the rest remains uncertain. The administrators, Interpath, have stated their commitment to keeping the remaining stores open “for as long as we can” while they assess all available options.
The sale to Modella Capital is not just a business transaction—it’s a story of survival, adaptation, and the ongoing battle to remain relevant on the high street. For the employees whose jobs have been saved, there is relief and hope for a more stable future. For those still at risk, the coming weeks will be filled with anxiety and anticipation as they await news about their stores and positions.
Modella’s acquisition of Claire’s fits a broader pattern of consolidation in the retail sector, where investment groups are snapping up distressed but recognizable brands in hopes of turning them around. The group’s recent purchases of WH Smith’s high street chain and Hobbycraft demonstrate a clear strategy: invest in established names, streamline operations, and seek new growth opportunities in a challenging market.
Meanwhile, the rebranding of WH Smith shops to TG Jones signals Modella’s willingness to shake things up and put its own stamp on the businesses it acquires. Whether similar changes are in store for Claire’s remains to be seen, but the brand’s core appeal—affordable, on-trend accessories for young shoppers—will likely remain central to its identity.
For now, the focus is on stabilizing the stores and supporting the staff who have endured months of uncertainty. The administrators and new owners face the daunting task of steering Claire’s through a period of transition, with the hope that the brand can not only survive but thrive in a rapidly evolving retail landscape.
As the dust settles, the story of Claire’s serves as a microcosm of the broader challenges and transformations sweeping through the UK’s high streets. The outcome for the remaining stores and employees is still unknown, but for those saved by the Modella deal, there’s a renewed sense of optimism—and a reminder that even in tough times, iconic brands can find a way forward.
