💨 Abstract

Claire's, a jewelry and accessories retailer, has filed for administration in the UK, putting its 280 stores at risk of closure. The company is seeking administrators to find a buyer amidst significant financial losses. Claire’s US and Canada have also started restructuring proceedings. CEO Chris Cramer cited this move as part of their broader effort to safeguard the brand's long-term value. Other high street retailers like River Island, Hobbycraft, and Morrisons are also facing closures.

Courtesy: Katie Boyden