Source: Sharecast
According to Sky News, Claire's Stores Inc has appointed Interpath Advisory to advise on sale and restructuring options for its UK business.
The move could result in a "significant number of store closures", Sky News reported, from its UK network of around 280 shops.
The development comes after the parent company warned last week that it was considering Chapter 11 bankruptcy protection in the US for the second time in seven years, blaming a weak consumer environment and tariff-related costs, along with significant amounts of debt. Options being explored also included a full or partial sale of its operations in North America and Europe.
Claire's Stores Inc, which has been around since 1974, operates from 2,750 stores worldwide, with 17 countries throughout North America and Europe. It's global network also includes ICING, the jewellery, accessories and cosmetics chain aimed at 18 to 35 year-olds in North America.
Claire's Stores Inc had been a publicly traded company until it was taken private by Apollo Global Management in 2007. In 2018, it filed for bankruptcy protection and by 2022 had exited bankruptcy.