Modella Capital warns of ‘inevitable’ closures and job losses at accessories chain while administrators will run remaining stores
The private equity firm which owns Hobbycraft has signed a deal to rescue half of the UK and Irish stores of the accessories chain Claire’s but warned some job losses and shop closures were “inevitable”.
Modella Capital said it had bought 156 Claire’s stores in the UK and Ireland from administrators, securing the immediate future of 1,000 employees, “in the hope that it will be able to rescue this well-known and highly regarded brand”.
Background
This developing story continues to unfold as more information becomes available. The situation has drawn attention from various stakeholders and continues to be monitored closely.
Analysis
Industry experts suggest that this development could have significant implications moving forward. The broader context of this news reflects ongoing trends in the sector.
What This Means
The implications of this news extend beyond the immediate circumstances. Stakeholders are closely watching how this situation develops and what it might mean for future developments in this area.