Popular among youth: World-famous accessory brand is closing all its stores

Globally recognized accessory retailer Claire’s is closing all 154 of its physical stores in the United Kingdom and Ireland following recent financial pressures. This decision was announced after the company was placed into administration, leaving more than 1,300 employees at risk of losing their jobs.

Claire’s, which managed to attract the interest of young consumers with its stores, was known for its colorful designs and ear-piercing services. However, the contraction in the physical retail sector has made it difficult for the company to survive.

In a statement made by the administrator Kroll, it was noted that despite the store closures, approximately 350 sales points operating within other chain stores will continue to provide service.

The company's parent owner, Modella Capital, had shared with the public that it could not reach expected sales figures, particularly during the last Christmas period, and that in addition to this, rising personnel and insurance costs further increased the financial burden.

News Source: 12punto