The buyer of WHSmith’s high street arm,  Modella Capital, and HMV tycoon Doug Putman are potential buyers of bust retailer Claire’s Accessories.

Modella, which acquired WHSmith’s high street division in June and is rebranding it as TG Jones, made an offer for Claire’s to administrator Interpath in the last 10 days, Sky News reported. 

Putman, who bought HMV in 2019 and later tried to buy Wilko when it collapsed, also tabled a bid.

It is not known whether one of the pair is in front in a battle for control of Claire’s, or whether there are any other interested parties. Interpath said last month, after Claire’s hit the buffers, that it would continue to trade all 278 of the retailer’s UK shops and 28 Irish branches as it considered options.

Claire’s employs approximately 2,150 people in the UK. 

At the time of the administration, Interpath UK chief executive Will Wright said: “Claire’s has long been a popular brand across the UK, known not only for its trend-led accessories but also as the go-to destination for ear piercing.

“Over the coming weeks, we will endeavour to continue to operate all stores as a going concern for as long as we can, while we assess options for the company. This includes exploring the possibility of a sale, which would secure a future for this well-loved brand.”

Claire’s US parent also filed for Chapter 11 bankruptcy protection in August.

Topics