{"id":687861,"date":"2026-01-11T00:48:13","date_gmt":"2026-01-11T00:48:13","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/687861\/"},"modified":"2026-01-11T00:48:13","modified_gmt":"2026-01-11T00:48:13","slug":"two-high-street-giants-plunge-into-administration-2550-jobs-at-risk-city-business-finance","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/687861\/","title":{"rendered":"Two high street giants plunge into administration – 2,550 jobs at risk | City & Business | Finance"},"content":{"rendered":"

Two high street giants have been plunged into administration, putting more than 2,500 jobs and nearly 300 stores at risk. Claire’s is a US accessory retailer that first appeared on UK shopping streets<\/a> in 1997. The firm entered administration in the UK and Ireland in 2025 after its American parent Claire’s Holdings LLC initiated bankruptcy proceedings across the pond.<\/p>\n

A partial rescue deal saw around 156 stores bought and around 1,000 jobs saved, but the troubles have reared their head once again. Owner Modella Capital, which also owns The Original Factory Shop, the other company that has called in administrators, said trade was \u201calarmingly\u201d low over Christmas<\/a>, which left both high street names in a “vulnerable” position.<\/p>\n

Claire’s has about 156 stores operating in the UK. There are reportedly around 140 Original Factory Shop outlets.<\/p>\n

“A combination of very weak consumer confidence, highly adverse government fiscal policies and continued cost inflation is causing many established and much-loved businesses to suffer badly,” Modella said, the BBC<\/a> reported.<\/p>\n

It comes amid large-scale challeges for shopping districts in UK towns.<\/p>\n

Britain\u2019s biggest supermarkets have toasted a Christmas of strong food spending, but fashion and homeware failed to make headway in a mixed picture for the high street.<\/p>\n

Tesco, Sainsbury\u2019s and Marks & Spencer were among those to deliver good news about their festive grocery sales as they enticed shoppers with premium ranges and trend-focused products.<\/p>\n

Tesco, the UK\u2019s biggest grocery chain, reported sales growth over the Christmas period and cheered increasing its share of the overall market to 28.7% over the final quarter \u2013 its highest for more than a decade.<\/p>\n

Boss Ken Murphy said competition among supermarkets to attract shoppers was \u201crelentless\u201d with value-for-money remaining a priority for people.<\/p>\n

M&S partly blamed falling sales in its stores on there being fewer visitors to British high streets.<\/p>\n","protected":false},"excerpt":{"rendered":"Two high street giants have been plunged into administration, putting more than 2,500 jobs and nearly 300 stores…\n","protected":false},"author":2,"featured_media":687862,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[51,1700,13465,16,15],"class_list":{"0":"post-687861","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-economy","10":"tag-high-street","11":"tag-uk","12":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115873716828589397","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/687861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=687861"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/687861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/687862"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=687861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=687861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=687861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}