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Claire's UK Files Notice of Intention to Appoint Administrators

"This decision, while difficult, is part of our broader effort to protect the long-term value of Claire's across all markets," said Chris Cramer, CEO of Claire's. "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." "This decision, while difficult, is part of our broader effort to protect the long-term value of Claire's...
LONDON, (informazione.news - comunicati stampa - moda)

"This decision, while difficult, is part of our broader effort to protect the long-term value of Claire's across all markets," said Chris Cramer , CEO of Claire's. "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."

After the Joint Administrators have been appointed, Claire's UK stores will remain open and continue to trade. Store employees will remain in their positions, and customers can continue to shop in-store as usual.

This announcement follows Claire's U.S. and Canadian affiliates recently commencing court-supervised restructuring proceedings. In the U.S., the Bankruptcy Court approved, on an interim basis, initial "first day" motions to provide liquidity to complete the Chapter 11 process. In Canada , Claire's Stores Canada Corp. is proceeding under the Companies' Creditors Arrangement Act (CCAA) in the Ontario Superior Court of Justice. Separate proceedings are also already underway in Germany and Austria .

This filing applies exclusively to Claire's UK and does not affect operations in markets beyond the UK and the Republic of Ireland .

Claire's Holdings LLC is a fully integrated, global fashion brand powerhouse committed to inspiring self-expression through the creation and delivery of exclusive, well-curated products and experiences. Through its global brands, Claire's® and Icing®, the company delivers an immersive, omnichannel shopping experience with owned and concession stores throughout North America and Europe as well as around the world. More information regarding Claire's is available at corporate.claires.com.

Prosek Partners for Claire's 
Pro-Claires@prosek.com

Katy Broomhead , Director of Communications at Interpath
katy.broomhead@interpath.com

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