Administration news and archive

Claire’s reportedly set to close up to 145 stores across UK

Accessories retailer Claire’s is believed to be preparing to shutter 145 stores across the UK and Ireland on the back of securing a new owner for its business in the two regions. The move comes after Modella Capital stepped up to rescue the retailer from administration last week. The deal, however, only involved the purchase of 156 Claire’s...

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IKKS enters administration, over 1,000 jobs at risk

Fashion brand IKKS has been placed into administration. This procedure puts over 1,000 jobs at the group at risk, AFP learned on Friday from the Paris Commercial Court, confirming a report from Les Echos. The brand, which had ceased payments and was already facing difficulties a few years ago, secured a debt waiver from its creditors in 2024....

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Modella saves 156 Claire's UK stores, future uncertain for remaining stores

The future of the iconic high street retailer Claire's has been partially secured after specialist investment firm Modella Capital agreed to acquire more than half of its business and assets in the UK and Ireland. The deal, confirmed by administrator Interpath, involves the purchase of 156 Claire's stores for an undisclosed sum, a move that...

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Claire’s UK arm falls into administration: What’s at stake?

On the heels of a bankruptcy in the US and a receivership in France, the UK arm of Claire’s has now collapsed into administration. But as the rescue efforts mount up, what is at stake for the once prevalent teen retailer? On Wednesday, it was confirmed that advisers at Interpath had been appointed to oversee the administration process of Claire’...

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Retail reckoning: CaaStle, Hudson’s Bay, and Forever 21 lead grim wave of 2025 liquidations

The first half of 2025 has been marred by an increasing number of retailers and their partners descending into bankruptcy, and ultimately liquidation, as the market continues to grapple with waning consumer confidence and heightened competition. From Forever 21 to Hudson’s Bay, we explore some of the most notable bankruptcies of the year so far,...

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Jewellery chain Claire's enters administration in France

The French subsidiary of Claire’s, the low-cost jewellery and accessories retailer, has been placed into receivership. This was confirmed on Monday to AFP by the lawyer representing the staff, corroborating information from local radio station Delta FM. The brand, known for its earrings, piercings, and accessories aimed at teenagers, operated...

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Retail

From New Look to Select Fashion: Inside the retail collapse threatening the UK high street

The UK retail landscape continues to face mounting challenges. Amid rising operational costs, the long-tail impact of the pandemic and ongoing supply chain disruptions, many businesses are navigating an increasingly volatile environment. An uncertain outlook remains for a significant portion of the sector – and the country is on track to see a...

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Next and Frasers said to be in running for Seraphine rescue deal

Following Seraphine’s descent into administration last week, speculation over potential saviours are beginning to swirl. Among them, British retail giants Next and Frasers Group are said to be frontrunners in potential deals to rescue the maternity wear brand. According to sources for Drapers, dubbed “several industry veterans”, the two firms...

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Seraphine appoints administrators

British maternity brand Seraphine has collapsed into administration and appointed Will Wright and Chris Pole from Interpath as joint administrators. In a statement, Seraphine said it had been experiencing “trading challenges” in recent years, which have been “exacerbated by fragile consumer confidence which had negatively impacted sales”. The...

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Princesse tam tam and Comptoir des Cotonniers placed in administration

Paris - The crisis continues in French ready-to-wear. Lingerie brand Princesse tam tam and clothing brand Comptoir des Cotonniers have entered administration. AFP learned this on Wednesday from a source close to the matter. Struggling for several years, these two brands have found it difficult to withstand "a market context that has not...

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New Look liquidates Irish business, 26 stores to close

Fast fashion retailer New Look is preparing to wind down its operations in Ireland, where a subsidiary for the company has been appointed a provisional liquidators following a battle with widening losses over several years. The High Court has approved the appointment for New Look Retailers (Ireland) Limited after its parent company said it was...

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Quiz UK and Ireland retail subsidiary falls into administration, 23 stores to close

Quiz has confirmed that consultancy firm Teneo has been appointed as the administrator to Zandra Retail Limited, the company’s wholly owned subsidiary which operates its standalone UK and Ireland retail stores. Orion Retail Limited, another subsidiary to Quiz, has now agreed to acquire certain assets of Zandra, including the right to occupy and...