The French subsidiary of American accessories chain Claire’s was placed under judicial recovery by the Paris Commercial Court last Thursday. A similar scenario might be looming in the UK.
Restructuring
On 24 July, Claire’s French subsidiary was placed under judicial administration by the Paris Commercial Court, FashionNetwork.com has learned. The chain has 239 stores and 1,258 employees in France. For the time being, the stores will remain open: in a letter to employees, management calls the procedure “an important moment in our restructuring efforts”. French sales fell by 7% to 132 million euros in the financial year ending in January 2024, compared to 142 million euros a year earlier.
