Summary
Both Claire's and The Original Factory Shop, two retail chains, have gone into administration in the UK and Ireland. This move puts 2,500 jobs at risk as their owner, Modella Capital, seeks to address financial difficulties and find new buyers.
Key Facts
- Claire's and The Original Factory Shop are being put into administration.
- About 2,500 jobs are at risk due to this move.
- Claire's was previously seeking a buyer after its US owner filed for bankruptcy last year.
- Modella Capital owns both Claire's and The Original Factory Shop.
- The administration process is happening in the UK and Ireland.
- The companies aim to find new buyers during the insolvency proceedings.
- Modella Capital cited tough trading conditions and low Christmas sales as reasons for financial trouble.
