Claire's Accessories, which has a store on Station Parade in Harrogate, has announced it's set to enter administration in the UK.
The retailer says the decision is intended to protect the business and its stakeholders.
Claire’s has 278 shops in the UK and 28 in the Republic of Ireland, with around 2,150 jobs at risk.
Will Wright and Chris Pole from Interpath are expected to be appointed as joint administrators in the coming days.
CEO Chris Cramer said:
“This decision, while difficult, is part of our broader effort to protect the long-term value of Claire's across all markets.
“In the UK, taking this step will allow us to continue to trade the business while we explore the best possible path forward. We are deeply grateful to our employees, partners and our customers during this challenging period.”
Stores will remain open and trading after the appointment of administrators, with staff continuing in their roles.
The announcement follows similar restructuring processes in the US, Canada, Germany and Austria, though only UK and Irish operations are affected.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said:
"Claire’s attraction has waned, with its high street stores failing to pull in the business they used to.
"While they may still be a beacon for younger girls, families aren’t heading out on so many shopping trips, with footfall in retail centres falling.
"The chain is now faced with stiff competition from Tiktok and Insta shops, and by cheap accessories sold by fast fashion giants like Shein and Temu."
She added:
"Having so many stores across the UK, used to be great for brand recognition, now names are recognised from social media feeds not building fascia.
"This move to appoint administrators appeared to be an inevitable step for Claire’s UK business, after the company filed for bankruptcy yet again in the US, and restructuring proceedings get underway in its other markets.
"It looks certain that more stores will close, given the liability the store footprint has become for the company.’’
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