Privately-owned specialist retail investment firm Modella Capital (“Modella”) has announced the acquisition of 156 stores of the UK and Ireland business of Claire’s, which is currently in administration. Financial details of the transaction are not disclosed.
Founded in 1961 and acquired by Ames Watson in August 2025, Claire’s is a much- loved and important brand on the UK and Ireland High Street. It has been a nostalgic rite of passage since 1974, known for piercings, first jewellery purchases and self-expression. Unfortunately, it has struggled in recent years and entered into administration on 13th August 2025. Claire’s UK and Ireland business is part of a larger international group encompassing the US and continental Europe, all of which is currently in the hands of administrators. Modella has agreed with the UK and Ireland administrator to take 156 of Claire’s UK and Ireland stores out of administration, in the hope that it will be able to rescue this well-known and highly regarded brand.
Although it is inevitable that this acquisition will result in some store closures and job losses, this intervention offers the potential to save over a thousand jobs across the UK and Ireland that would otherwise have been lost. Modella will now enter a period of accelerated negotiations with landlords before deciding which of the 156 stores can remain open. Employees have been told that the final decisions for these UK and Ireland stores will be made as soon as possible. It is not possible for Modella to define which of these stores will remain open, and which will sadly have to close, before landlord negotiations are complete.
In a related transaction, Modella Capital has secured a licence to trade in the UK and Ireland as Claire’s, from Ames Watson, the US-based brand specialist which owns the intellectual property.
Joe Price, managing director at Modella Capital, said: “As a firm, we strongly believe that this much-loved brand deserves the chance to remain on the High Street in the UK and Ireland. The issues that Claire’s is facing are significant, and we will need to work collaboratively with all interested parties if our proposed rescue plan is to succeed.”
