Claire’s Accessories is said to be up for sale, raising uncertainty about the future of its 281 UK stores on the high street. The global fashion and jewelry retailer, with over 2,000 stores worldwide, is grappling with increased import costs due to US tariffs.
Bankers from Houlihan Lokey Inc have been enlisted to explore potential buyers for Claire’s, as per reports from Bloomberg. While the sale is not confirmed, Claire’s UK stores are operating normally at this time.
Julie Palmer, a partner at Begbies Traynor financial consultancy, noted that the potential sale is not unexpected given the escalating import expenses and the repercussions of trade tariffs imposed by Donald Trump. She highlighted that Claire’s competitive pricing strategy has not been effective in retaining its core demographic of young customers, who now have access to a wide range of affordable and convenient options online.
Controlled by former creditors such as Elliott Management Corp and Monarch Alternative Capital LP since its bankruptcy in 2018, Claire’s reportedly has a $500 million (£368 million) loan due by December 2026.
In a separate development, WHSmith has agreed to sell its UK high street chain to Modella Capital for £76 million. The stores will be rebranded as TGJones, marking the end of the WHSmith brand’s presence in town centers after 233 years. However, WHSmith will retain its profitable travel locations, including shops in airports and train stations, which will continue operating under the WHSmith name.
Currently, WHSmith has approximately 480 high street stores in the UK and over 1,200 travel stores across 32 countries, with its travel division contributing 85% of the group’s profits.
Poundland has confirmed the closure of 68 stores following its acquisition by investment firm Gordon Brothers for £1. The retailer plans to shut down its distribution centers in Darton, South Yorkshire, and Bilston, West Midlands in early 2026. Additionally, Poundland aims to reduce rents at several stores, discontinue frozen food sales, and halt online orders, although the website will remain accessible for browsing products and deals.
The proposed restructuring at Poundland, which could endanger more than 1,000 jobs, is subject to approval by the High Court. Owned by Pepco Group, Poundland currently operates 792 stores and employs around 16,000 staff.