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The fund jeweller and manner accessories concatenation Claire's has hired advisers to find a purchaser for its British operations arsenic it explores options – including bankruptcy – for its US-based business.
Sky News has learnt that Claire's, which trades from astir 280 UK shops, is moving with Interpath Advisory connected a imaginable merchantability oregon restructuring.
Sources said that prospective buyers of the concern had been told that a merchantability of the British concatenation could pb to important numbers of store closures.
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One retail manufacture brag speculated that arsenic galore arsenic a 3rd of the UK shops could beryllium axed successful a woody to salvage the remainder of the chain, perchance putting hundreds of jobs astatine risk.
Claire's has been a fixture successful British buying centres and connected precocious streets for decades.
Bloomberg News reported past week that Claire's Stores Inc, the US-based genitor company, was considering filing for bankruptcy extortion portion it explores a merchantability of its operations successful North America and Europe.
Houlihan Lokey, the concern bank, is advising connected the sale.
The company, which is reported to commercialized from 2,000 stores globally, is owned by erstwhile creditors Elliott Management and Monarch Alternative Capital pursuing a erstwhile fiscal restructuring.
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Bankers speculated that prolific retail investors specified arsenic Modella Capital and Gordon Brothers mightiness beryllium among those funny successful Claire's British business.
Claire's could not beryllium reached for comment, portion Interpath declined to comment.
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