Claire’s and TOFS teeter on administration as UK high street faces fresh jobs shock
Claire’s and The Original Factory Shop are preparing to file for insolvency, putting about 2,500 jobs and over 300 stores at risk, Sky News reported Monday. The chains, both owned by Modella Capital, face rising costs and weaker demand after Christmas trading. Interpath Advisory is expected to handle TOFS and Kroll to handle Claire’s. Shopper footfall before Christmas fell 13.1% from a year earlier, according to Sensormatic Solutions.