Claire’s calls in advisers as it explores potential sale
Claire’s has drafted in advisers to pull together a last-ditch rescue plan amid concerns that it may be unable to meet a major debt repayment.
According to The Telegraph, restructuring specialists at Interpath have been called in to seek potential investors who might be interested in rescuing all or part of the accessory and jewellery retailer’s British operations.
Subscribe to TRBClaire’s has 2,300 stores in North America and Europe, 300 of which are in the UK.
The company has a $480 million (£355 million) loan which is due for repayment in December 2026.
Interpath’s appointment has sparked speculation that a radical break-up could be on the cards, which could include widespread store closures and a potential withdrawal from certain countries.
Advisers at Houlihan Lokey and Alvarez and Marsal have also been working with Claire’s owners on a deal that could see the retailer’s US operations seek bankruptcy protection for the second time in seven years.
