Claire’s Attracts Early Offers: Hilco, Investor in Superdry, Eyes UK Business

Claire’s is beginning to be approached by potential buyers. According to Sky News, the investment group Hilco Capital has entered the bidding for the British arm of the accessories and fashion jewelry company Claire’s. In early July, it emerged that Claire’s is considering bankrupting its U.S. business.

Hilco, an investor in retail companies such as Superdry, will submit a formal bid for Claire’s U.K. business in the coming weeks. Other companies that could bid are, according to the same media, Alteri Investors and Modella Capital. Claire’s has 280 stores in the United Kingdom, although a large part of this network could be closed as part of the sale.

Earlier this month, Claire’s began looking for options to divest its UK business, in parallel to the possible filing of a bankruptcy petition in the United States.

Claire’s to sell its U.K. store network and may file for bankruptcy in the U.S. 

The company has a network of 2,750 stores in seventeen countries, plus a presence in department store spaces in the United States and Europe and a network of more than 300 franchises in the Middle East and South Africa.

The accessories company has been experiencing difficulties since 2018, when it already filed for bankruptcy proceedings in the United States. At that time, the company’s owner, Apollo Global Management, transferred the asset to creditors, including Elliott Management and Monarch Alternative Capital.

Now, the company has come under pressure from a cocktail of factors: a $477 million debt maturing in December 2026, falling consumption in the United States and, above all, rising costs resulting from the increase in tariffs imposed by the United States on China, Claire’s main supply market.

Founded in 1974, the company defines itself as a shopping destination for jewelry, cosmetics, accessories and piercing for girls and teenagers between the ages of 3 and 18. In addition to the Claire’s chain, the company owns Icing, which targets an older audience.