Claire’s and The Original Factory Shop near collapse, putting 2,550 jobs at risk

Owner Modella starts insolvency proceedings for both chains, saying trading is ‘extremely challenging’The retailers Claire’s and The Original Factory Shop are on the brink of administration, putting 2,550 jobs at risk.Both chains are owned by Modella Capital, a private equity firm, which recently bought the high street arm of WH Smith – renamed TG Jones. Modella said in a statement that the climate on UK high streets was “extremely challenging” and data suggested “an alarming drop-off in pre-Christmas footfall”. Continue reading...