The two retailers had already undergone restructuring and were bought by investment firm Modella Capital last year. It will mean 1,355 employees in the UK and Ireland at 154 Claire’s shops will be put at risk, and 1,220 staff across 140 TOFS’ stores. “The climate on the high street remains extremely challenging, and TOFS and Claire’s are not alone in experiencing difficulties,” the firm said. The fashion accessories chain had appointed administrators for its UK and Ireland business after filing for bankruptcy in the US. Modella has become a significant force in the British retail industry, having bought WH Smith’s high street chain last year and taking over arts and crafts retailer Hobbycraft in 2024.

Source: The Herald January 06, 2026 00:47 UTC