Latest news with #Claire's
Fashion United
3 days ago
- Business
- Fashion United
Superdry investor Hilco said to be eyeing Claire's takeover
Hilco Capital, an investor in Superdry and the former owner of Cath Kidston, is believed to be among the initial bidders eyeing a takeover of struggling accessories chain Claire's. According to Sky News, the investment firm is specifically eyeing the retailer's UK arm, which reportedly appointed advisors from Interpath Advisory last week to oversee a rescue plan. FashionUnited has contacted Claire's with a request to comment. Hilco declined to comment. The news of a potential sale, initially reported on by the Telegraph, fuelled speculation that Claire's was considering a major geographical break up of its business, with its US operations separately believed to be on the brink of bankruptcy. In the UK, meanwhile, the sales process is expected to also attract the likes of Alteri Investors and Modella Capital, the buyer of WHSmith, Sky News said. Hilco, meanwhile, has garnered a reputation for aiding struggling companies to reinstate their presence in the UK. The firm sold lifestyle retailer Cath Kidston to Next in 2023, after helping to turn around the business following a period of financial difficulty. It was further said to have most recently pursued a takeover of Poundland, which was put up for sale by Polish retailer Pepco Group and ultimately acquired by Gordon Brothers.
Scotsman
3 days ago
- Business
- Scotsman
Claire's UK: ear piercing chain faces uncertain future
This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement. Shoppers could soon say goodbye to their go-to sparkle spot as big changes loom ✨ Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Hilco Capital is considering a takeover of Claire's UK business, which runs 280 stores The retailer faces a £355m debt repayment and falling sales amid tough market conditions Industry insiders warn up to a third of Claire's UK stores could be shut in a rescue deal Claire's US arm is reportedly exploring bankruptcy protection to secure its future Other potential bidders include Alteri Investors and Modella Capital The investment firm behind household names like Lakeland, HMV, and Superdry, is eyeing a potential takeover of a UK retail icon that has defined a generation of childhood shopping trips. Hilco Capital's potential acquisition of the UK arm of Claire's Accessories could mean big changes for stores across the country. Advertisement Hide Ad Advertisement Hide Ad The high street stalwart, which operates around 280 stores in Britain, has appointed Interpath Advisory to explore sale and restructuring options amid mounting debt and ongoing cost pressures. With warnings that up to a third of UK Claire's stores could be forced to close, the future of the brand on the British high street is far from certain. (Photo: RICCARDO MILANI/Hans Lucas/AFP via Getty Images) | Hans Lucas/AFP via Getty Images Why is Claire's being sold? The retailer is grappling with a looming £355 million repayment due in 2026. While pre-tax losses have narrowed slightly, UK sales have dipped, and rising operational costs have further squeezed profitability. Claire's current owners — a group including Elliott Management, Monarch Alternative Capital, and JP Morgan — are also actively looking for buyers for its global business, which spans more than 2,700 stores worldwide. Advertisement Hide Ad Advertisement Hide Ad The situation is even more precarious in the US, where Claire's is reportedly considering bankruptcy protection to safeguard the future of its operations. Who's in the running to buy Claire's UK? Hilco isn't the only one in the frame. Private equity firms including Alteri Investors and Modella Capital — the latter fresh off acquiring WHSmith's high street division — are also reported to be circling. But whoever ends up taking the reins, the road ahead likely involves some painful decisions. Advertisement Hide Ad Advertisement Hide Ad Will Claire's Accessories stores close? Retail experts say store closures are all but inevitable, with one industry boss suggesting as many as 90 stores could be shuttered as part of a rescue strategy — putting hundreds of jobs at risk. If you rely on Claire's for quick, affordable accessories, birthday gifts, or a first-time ear piercing, your local store could soon disappear. With many of its outlets based in shopping centres and town centres, closures would mark another blow to already struggling high streets. But Hilco also has a reputation for turning around troubled brands — its involvement in HMV helped the music retailer survive a turbulent retail climate. Advertisement Hide Ad Advertisement Hide Ad A more streamlined Claire's could emerge, with fewer but better-performing stores and possibly more focus on e-commerce and experiential retail.
Scotsman
3 days ago
- Business
- Scotsman
Claire's UK: ear piercing chain faces uncertain future
This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement. Shoppers could soon say goodbye to their go-to sparkle spot as big changes loom ✨ Sign up to the weekly Cost Of Living newsletter. Saving tips, deals and money hacks. Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Hilco Capital is considering a takeover of Claire's UK business, which runs 280 stores The retailer faces a £355m debt repayment and falling sales amid tough market conditions Industry insiders warn up to a third of Claire's UK stores could be shut in a rescue deal Claire's US arm is reportedly exploring bankruptcy protection to secure its future Other potential bidders include Alteri Investors and Modella Capital The investment firm behind household names like Lakeland, HMV, and Superdry, is eyeing a potential takeover of a UK retail icon that has defined a generation of childhood shopping trips. Hilco Capital's potential acquisition of the UK arm of Claire's Accessories could mean big changes for stores across the country. Advertisement Hide Ad Advertisement Hide Ad The high street stalwart, which operates around 280 stores in Britain, has appointed Interpath Advisory to explore sale and restructuring options amid mounting debt and ongoing cost pressures. With warnings that up to a third of UK Claire's stores could be forced to close, the future of the brand on the British high street is far from certain. (Photo: RICCARDO MILANI/Hans Lucas/AFP via Getty Images) | Hans Lucas/AFP via Getty Images Why is Claire's being sold? The retailer is grappling with a looming £355 million repayment due in 2026. While pre-tax losses have narrowed slightly, UK sales have dipped, and rising operational costs have further squeezed profitability. Claire's current owners — a group including Elliott Management, Monarch Alternative Capital, and JP Morgan — are also actively looking for buyers for its global business, which spans more than 2,700 stores worldwide. Advertisement Hide Ad Advertisement Hide Ad The situation is even more precarious in the US, where Claire's is reportedly considering bankruptcy protection to safeguard the future of its operations. Who's in the running to buy Claire's UK? Hilco isn't the only one in the frame. Private equity firms including Alteri Investors and Modella Capital — the latter fresh off acquiring WHSmith's high street division — are also reported to be circling. But whoever ends up taking the reins, the road ahead likely involves some painful decisions. Advertisement Hide Ad Advertisement Hide Ad Will Claire's Accessories stores close? Retail experts say store closures are all but inevitable, with one industry boss suggesting as many as 90 stores could be shuttered as part of a rescue strategy — putting hundreds of jobs at risk. If you rely on Claire's for quick, affordable accessories, birthday gifts, or a first-time ear piercing, your local store could soon disappear. With many of its outlets based in shopping centres and town centres, closures would mark another blow to already struggling high streets. But Hilco also has a reputation for turning around troubled brands — its involvement in HMV helped the music retailer survive a turbulent retail climate. Advertisement Hide Ad Advertisement Hide Ad A more streamlined Claire's could emerge, with fewer but better-performing stores and possibly more focus on e-commerce and experiential retail. Are you struggling to make ends meet as costs continue to rise? You can now send your stories to us online via YourWorld at It's free to use and, once checked, your story will appear on our website and, space allowing, in our newspapers.
Fashion Network
3 days ago
- Business
- Fashion Network
Hilco likely to be among bidders for Claire's UK ops
Hilco Capital is one of the likely bidders eyeing a takeover of the UK operations of stricken budget jewellery and accessories business Claire's. That's according to Sky News, which has a strong track record on such stories. It said Hilco, which owns lakeland and is one of Superdry 's backers, is expected to be among the initial bidders for Claire's UK. The company was also recently a Poundland bidder although was ultimately unsuccessful with that acquisition target. As for Claire's, initial offers are expected to come in during the next few weeks, according to Sky's banking sources. Other prospective bidders are likely to be Alteri Investors and Modella Capital (whose most recent big-name purchase was WH Smith's high street chain). The American company has been struggling for some time and as part of the rescue process that could include a bankruptcy filing for the parent business, the UK ops are expected to be sold. That would mean a significant number of its 280 UK stores closing, perhaps a third of them. Claire's has around 2,000 stores globally.
Fashion Network
3 days ago
- Business
- Fashion Network
Hilco likely to be among bidders for Claire's UK ops
Hilco Capital is one of the likely bidders eyeing a takeover of the UK operations of stricken budget jewellery and accessories business Claire's. That's according to Sky News, which has a strong track record on such stories. It said Hilco, which owns lakeland and is one of Superdry 's backers, is expected to be among the initial bidders for Claire's UK. The company was also recently a Poundland bidder although was ultimately unsuccessful with that acquisition target. As for Claire's, initial offers are expected to come in during the next few weeks, according to Sky's banking sources. Other prospective bidders are likely to be Alteri Investors and Modella Capital (whose most recent big-name purchase was WH Smith's high street chain). The American company has been struggling for some time and as part of the rescue process that could include a bankruptcy filing for the parent business, the UK ops are expected to be sold. That would mean a significant number of its 280 UK stores closing, perhaps a third of them. Claire's has around 2,000 stores globally.
