Fashion accessories chain Claire’s is on the brink of collapse after the retailer said it will appoint administrators in the UK and Ireland, putting 2,150 jobs at risk.
The company has 278 stores in the UK and 28 in Ireland but has been struggling with falling sales and fierce competition.
All the shops will continue trading while administrators at Interpath, once appointed, will “assess options for the company”.
Interpath chief executive Will Wright, said options include “exploring the possibility of a sale which would secure a future for this well-loved brand”.
Claire’s in the US filed for bankruptcy in the US earlier this month.
The firm operates under two brand names, Claire’s and Icing, and is owned by a group of firms, including investment giant Elliott Management.
Similar to its UK bankruptcy, the firm said all of its US shops will remain open until an alternative future is found.
Claire’s had been particularly popular for its ear piercing services, and was a common stop in the early 2000s for tweens and teens during a weekend shopping trip in malls across the world.
It stores were eye-catching for their colourful selection of hair bands, earrings, jewellery and occasionally toys like slime and fluffy toys.
