Claire’s Accessories bankruptcy will not affect UK stores according to owner

Claire's files for IPO 3 years after bankruptcy
The retailer was take private in 2007 in £2.2 billion leveraged buyout.

Claire’s Accessories has sought to reassure customers that its UK operations will not be affected by its US counterpart’s bankruptcy filing.

Earlier this week it was reported that the accessories retailer, which trades from 378 stores and 128 concessions across the UK, was preparing for bankruptcy as it struggled to tackle its £1.4 billion debt pile.

However, the owners of the US-based company, Apollo Management, told City AM on Thursday that the processes will not affect its European operations.

Furthermore, Claire’s UK finance director Stuart Brown sought to reassure investors by stating that its US arm was confident it could honour commitments and continue to trade at least until early 2019.

The news will come as a relief to employees and investors alike, as Toys R Us announced that both its stores across the UK and US would start closing.

Three thousand jobs in the UK and 30,000 in the US have been placed in jeopardy as the toy retailer winds down.

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  1. “Store”, what store? I thought Claire’s is a shop? RetailGazette, as a British site I and many other fellow British people expect you to use English in your articles and not foreign languages such as American. The proper term for “a building or part of a building where goods or services are sold” is a “shop” in English. A store is a place where things are kept for future use or sale. The Americans have altered the meaning of the word “store” to refer to shops, but that isn’t English and has no relevance to UK sites. Use English.

    • Very good point Johnny. I’ve long rued the misuse of the word “store” on some UK shops that seem to think American is the appropriate language to be used here. With the exception of the “department store”‘ which is a term we invented, stores have a very specific meaning, and that’s a place where things are kept. You don’t go “storing”, you go “shopping.” Let’s hope Retail Gazette learns an English lesson from this.

    • calm your tits mate. it’s a word. maybe you should focus on real world issues instead of proper foaming at the mouth over one word

    • Miserable ass, you know what has been meant… it’s an American company and they describe them as stores, as do many uk companies…

  2. Johnny, I would have thought the gravity of shops closing and possible jobs lost warrants more than a lesson in etymology, which is dubious at least.

  3. Hmm,over thirty years in retail (in the uk) and all this time I’ve been calling my places of work stores.
    Thanks for the correction Johnny oh and a very good point James.

  4. They are stores. It’s not an Americanisation either. Go back through the censuses of the 1800’s and you will see loads of one man band shops listed as stores. I have never been to an interview for a shop manager, The only businesses that tend to advertise for shop managers are charities.

    • Barry Calms, you might want to look up the etymology of the word “store” in a reputable dictionary such as the OED. With the exception of the department store, store cannot be used to refer to shops. Many British businesses are using the American word, just like many are dropping the “u” in “colour.” These are nothing more than herds of American worshipping sheep, who shouldn’t be in the UK.

  5. Daithi G, that depends. Is it a department store you work at? If it is, keep using it. If it isn’t, use “shop.” That is, if you’re interested in using English.

    • That’s only used in the case of a department store. Otherwise it’s always a shop. Last I checked, Claire’s is very clearly a specific type of shop and not a department store. The Oxford Living Dictionaries is not a very reliable resource unlike the Oxford English Dictionary. Stop worshipping Americans, Eden. What next, you’re going to tell me ‘color’ is the right word?

  6. The company is called Claire’s stores, Inc. That might be why the word has been used.
    Claire’s accessories is a past name.

  7. Fair enough, Thomas Wilkinson, however I believe that regardless of the proper noun the actual term for the establishment shouldn’t be altered if the site is serious about using English. For example, some shops have the term ‘Warehouse’ in their names, that does not make the establishment a warehouse by definition.

  8. I am sad that claire’s maybe closing. I love the range of affordable jewellery and accessories it offers. I can’t think of any other shop that provides such a wide range of these items.

  9. I will also be sorry if Claire’s were to close. I took both my daughters to have their ears pierced at our local Claire’s when they were four and a half months old and without Claire’s, I fear that the number of baby girls in the UK who have their ears pierced will fall considerably as most other places will not pierce a baby’s ears. Let us all hope that Claire’s survives in the UK !

  10. Well yes the tragedy of not being able to carry out piercings on infants.
    Does Claire’s also carry out genital mutilation by parent request? They may be missing out


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