280 Claire's locations facing closure as company considers bankruptcy

The chain store is known for its earring piercings (Picture: Getty)

Claire’s accessories could be the latest high street casualty after announcing it’s considering closing stores across the UK.

The fashion accessories store,which claims to have performed more piercings than any other chain,has over 280 stores across the UK.

However,the UK chain has incurred losses of £25,000,000 over the past three years alone,prompting the company to hire advisers to find a buyer for its British operations.

The company is also considering bankruptcy,according to Sky News,and if the company is sold,it could lead to a number of their UK storefronts closing for good.

One industry expert suggested Claire’s could see a third of their shops closed,putting hundreds of jobs at risk.

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Start your day informed with Metro's News Updates newsletter or get Breaking News alerts the moment it happens.Company leaders cited ‘general economic conditions’ such as inflation,labour supply,currency rates and more,which had affected the shop’s costs.In Greater London alone,there are at least 30 branches of the popular shop.The shop also reportedly has a £355,000 loan which they have to pay by the end of 2025.If the company moves forward with a sale or bankruptcy,Claire’s will join the growing list of shops shuttering their doors across Britain.Metro has contacted Claire’s for further information.

Why are so many shops closing across Britain? An expert weighs in

Criminology Professor Emmeline Taylor from City,St George’s University of London,explained to Metro that the demise of Claire’s highlights a few ongoing difficulties for the retail sector.

‘Bricks and mortar stores are facing a range of challenges,including staff recruitment and retention,rising operating costs such as rent and National Insurance,a shift towards greater e-commerce and online competition,and the ripple effects of persistent shop theft and abuse towards shop workers,’ she said.

‘As more businesses take the decision to permanently shutter stores,the impact on the already struggling high street is tangible; boarded up and vacant storefronts attract anti-social behaviour and criminal activity and can begin the downward spiral of an area.

‘A concerted national strategy to rejuvenate once thriving high streets is needed to secure local employment opportunities,support businesses,and reimagine commercial spaces to create vibrant leisure and community spaces.’

In June,it was announced fashion retailer River Island was working working with consultants to draw up a way to keep stores going amid tough trading conditions.

A ‘significant’ number of stores,as well as some of the 5,500 staff employed by the firm,could be affected by the move,Sky News reported.

The jewelry chain offers piercings in store along with a plethora of accessories (Picture: Getty)

Just yesterday,it was announced that more Poundland stores were set to close after the chain was acquired in a rescue deal.

Investment firm Gordon Brothers bought the struggling discount shop last last month,with Poundland going into a ‘restructuring’ process.

Poundland confirmed that 68 shops and two warehouses will shutter as part of the plan,subject to a court’s approval.

The company told Metro that a full list of store closures though it confirmed that the end goal would be reducing the number of Poundland stores from about 800 to 650.

New Look will also be closing down dozens of stores by the end of 2025,with the latest shutting its doors in Scotland earlier this month.

Shoppers might enjoy the closing-down sales in the short term,but the move is likely to deal another blow to struggling UK high streets.

Another store,in Wales,is due to close in August,bringing the total in the UK this year to 12,with another 26 in Ireland.

The fashion giant has been planning to trim its high street presence for some time,but it reportedly increased the number of planned closures after the Autumn budget last year.