Claire’s appoints advisers in hunt for buyer
Jewellery and accessories retailer Claire’s has appointed advisers to find a buyer for its UK business.
The retailer has appointed Interpath Advisory to advise on a potential sale or restructuring, Sky News has reported.
This comes as the chain struggles with increasing debts, including a £355m repayment due to be repaid in December 2026.
Sources told Sky News that prospective buyers have been informed that a sale of the chain could lead to significant numbers of store closures.
Potential buyers could include retail investors such as Modella Capital and Gordon Brothers.
Claire’s – which trades from around 280 stores in the UK – is also exploring options, including bankruptcy protection, for its US-based business, Bloomberg News reported last week.
The company is owned by its former creditors Elliott Management and Monarch Alternative Capital.