The High Street Retailer, who has nearly 300 British stores, is confronted with the threatening deadline for an outstanding loan of $ 480 million (£ 355 million) that must be repaid by December next year.
Here is everything we know:
What happens at Claire’s accessories?
Restructuring experts at Interpath lead the search for investors who can buy the entire or British activities.
The retailer has drawn up in an army of advisers to draw up a last-ditch rescue plan from the fear that it is unable to make an imminent reimbursement.
Faced with an outstanding loan of $ 480 million (£ 355 million) to be repaid in December 2026, Claire’s, with a total of 281 British stores, began to climb earlier this year to save cash.
Restructuring experts from Interpath have been given the task of looking for investors who are willing to save all or part of the British activities that have a core -customers soil from teenagers and young adults.
The British arm is part of a much larger group, with head office in Chicago, with a total of 2,300 points of sale in North America and Europe.
It is feared that every rescue agreement will lead to large -scale closures and in some cases countries leave completely.
How much money does Claire’s earn?
Claire’s American activities are expected to search for bankruptcy protection for the second time in seven years.
The British arm has laid losses of a total of £ 25 million in the last three years.
The most recent accounts show that it was £ 4.7 million in red in the year until March 2024, a slight improvement of £ 5 million the previous period. Turnover fell to £ 137 million.
Directors said: “General economic conditions, including inflation, currency figures, labor supply and transport capacity” had influenced the operational and product costs of the company.
Which stores run the risk of closure?
No official statements about closures have yet been made, and the look for a new buyer does not mean that one or all stores will close.
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