Future of Claire’s Accessories UK uncertain as company is set to appoint administrators
Susannah Streeter, head of money and markets, Hargreaves Lansdown: “Claire’s attraction has waned, with its high street stores failing to pull in the business they used to. While they may still be a beacon for younger girls, families aren’t heading out on so many shopping trips, with footfall in retail centres falling. The chain is now faced with stiff competition from Tiktok and Insta shops, and by cheap accessories sold by fast fashion giants like Shein and Temu. Having so many stores across the UK, used to be great for brand recognition, now names are recognised from social media feeds not building fascia. This move to appoint administrators appeared to be an inevitable step for Claire’s UK business, after the company filed for bankruptcy yet again in the US, and restructuring proceedings get underway in its other markets. It will be a very worrying time for staff at its 280 stores who face this deep period of uncertainty as administrators work out the best path ahead for the company. It looks certain that more stores will close, given the liability the store footprint has become for the company.”