Claire’s Enters Administration in UK and Ireland
Claire’s, the iconic high street jewellery and accessories chain, has officially entered administration in the UK and Ireland, putting over 2,100 jobs and more than 300 stores at risk. The move comes just days after its US parent company filed for Chapter 11 bankruptcy protection, blaming “increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail.” In the UK, administrators from Interpath have been appointed and are now looking at all options, including a possible sale to “secure a future for this well-loved brand.”
Despite falling sales and rising debts, Claire’s stores will stay open for now while administrators try to keep the business running. Known for its ear-piercing stations and walls of sparkly accessories, Claire’s has struggled to stay relevant in the modern era. “Claire's attraction has waned,” said Susannah Streeter of Hargreaves Lansdown, pointing to competition from fast fashion giants like Shein and Temu. Analysts also referenced increased import costs and changing shopping habits as major blows to the brand's bottom line.
Customers with unshipped online orders won’t be charged, but the company has paused issuing refunds and has stopped customers from making new orders. CEO Chris Cramer called it a “challenging period,” saying the decision to enter administration “allows us to continue to trade the business while we explore the best possible path forward.” Claire’s had previously filed for bankruptcy in 2018 and re-emerged in 2022, but the future of its UK and Ireland branches now hangs in the balance.
