Major UK retail model to open 50 new excessive road shops days after it shut down
The budget accessories retailer is set to launch 50 new stores on UK high streets, in a comeback staged by the owner of its European stores after Claire’s was placed into administration
A quick turnaround(Image: Matthew Horwood, Getty Images)
Collapsed jewellery chain Claire’s Accessories is set to make a comeback on British high streets next month, following its recent closure, according to reports. The budget accessories retailer plans to open 50 new stores across the UK, in a revival led by the owner of its European outlets.
Claire’s closed its remaining stores just days ago, after private equity firm Modella Capital placed the struggling retailer into administration.
However, Julien Jarjoura – the French entrepreneur who runs Claire’s Accessories branches in France, Austria, Portugal and Spain – announced on Friday that he will be stepping in to save the day.
He informed the Guardian that he has received approval from Ames Watson – the US owner of the brand – to launch new stores on high streets throughout the UK, as reported by City AM.
Jarjoura stated: “I feel so sad when I see such a nice business going down. The brand was basically dead and we’re bringing it back to life.” He revealed that he has already started signing leases with British landlords, and aims to open between four and 10 new stores every week from June. “A lot of people think Claire’s is a British brand. It is extremely famous in the UK and there is no way it is going away,” Jarjoura said.
The French businessman first attempted to acquire Claire’s in January, and said he will introduce some higher-priced products to generate more revenue. “We are not a discount store but we like to sell stuff at a fair price,” he said.
Claire’s remaining UK outlets shut their doors on Monday, marking the culmination of a process that resulted in the closure of 154 stores and the loss of over 1,000 jobs.
Modella Capital saved the retailer in August but initiated administration proceedings just months later, in January of this year.
A company spokesperson stated at the time: “We have worked intensively in an effort to save both businesses, having made last-ditch attempts to rescue them, but neither has a realistic possibility of trading profitably again. In these circumstances, administration is the only option.”
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