Modella saves 156 Claire's UK stores, future uncertain for remaining stores

The future of the iconic high street retailer Claire's has been partially secured after specialist investment firm Modella Capital agreed to acquire more than half of its business and assets in the UK and Ireland. The deal, confirmed by administrator Interpath, involves the purchase of 156 Claire's stores for an undisclosed sum, a move that immediately secures approximately 1,000 jobs.

The company stated on LinkedIn: “Claire’s has been a cherished part of the UK and Ireland High Street since 1974, known for its role in self-expression, first jewellery purchases, and ear piercings. While the brand has faced significant challenges in recent years, we believe it still holds a special place in the hearts of shoppers across generations. This acquisition represents a meaningful opportunity to preserve a much-loved brand and potentially safeguard over a thousand jobs across the UK and Ireland."

However, the future of the remaining 145 Claire's locations remains under assessment, with an estimated 1,000 employees across those stores not transferring to Modella. These stores will remain open and continue to trade while the administrators at Interpath explore further options.The private equity firm warned it was “inevitable that this acquisition will result in some store closures and job losses” as it negotiates with landlords over how many outlets it can keep open.

Will Wright, Interpath's UK chief executive and joint administrator, said: "Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available". Price acknowledged that Claire's was facing "significant" issues and that Modella Capital would need to "work collaboratively with all interested parties" for the rescue plan to succeed.

The sale also had an international scope, with Natasha Harbinson, Interpath's managing director confirming that the administrators had secured a sale of the Claire’s business in Switzerland, and that discussions are continuing regarding the fate of other Claire's entities in France, Italy and Poland.

This follows the separate sale of Claire's North American business in August to private equity firm Ames Watson for 104 million dollars, which included plans to close 290 US stores.

Claire’s, known for its fashion accessories and ear-piercing services, entered administration on August 13, 2025, following a Chapter 11 bankruptcy filing by its US parent company, Claire’s Holdings. This acquisition follows Modella’s earlier purchase of the British high street business WH Smith in June 2025. Claire's had placed 2,150 jobs at risk when it collapsed into administration.