Why it matters: The Ipswich store is offering a closing down sale as the chain struggles with financial challenges affecting all 156 of its stores in Britain and Ireland, just four months after it was bought out of its first administration.
The details: Administrators from Kroll were officially appointed on Monday, 26 January to handle the firm's insolvency, putting 156 stores and more than 1,000 jobs at risk.
The administrators stated the company would continue to trade during this period.
For context: This marks the second time Claire's has entered administration in just four months. Modella Capital bought the company last September, several months after Claire's had filed for insolvency in both the UK and the US.
The Birmingham-headquartered chain previously operated nearly 300 stores across the UK but was down to 156 at the time of Modella's acquisition.
What they're saying: Modella said in a statement: "This has been a very tough decision. We have worked intensively in an effort to save both businesses, having made last-ditch attempts to rescue them, but neither has a realistic possibility of trading profitably again."
The bigger picture: It is understood that a combination of government policy and demands from landlords to take back Claire's shops had rendered the future of the accessories chain unviable. The chain was also hit by changes in consumer behaviour among its traditional teenage customer base.
Modella also owns other high street retailers including WH Smith's high street estate, which has rebranded as TG Jones, and Hobbycraft.
The bottom line: The nationwide chain's financial struggles have reached Ipswich, with the Westgate Street store now offering discounts as the administration process continues.
