Claire’s Enters UK Insolvency as Modella Blames High Street Pain

Claire’s Accessories in the UK and Ireland entered insolvency proceedings along with discount department store chain The Original Factory Shop, after owner Modella Capital failed to turn around the struggling retailers.

The move puts about 2,500 jobs at risk across 300 stores, with Modella pointing to “legacy effects” of the companies’ trading that predated its ownership. The investment firm bought the UK and Ireland branch of Claire’s out of administration in September and bought The Original Factory Shop, best known for selling discount fashion and footwear, last February.