Modella Capital is in pole position to acquire Claire’s Accessories’ UK arm, following its collapse in August.
The WHSmith buyer has agreed the outline of a deal with the fashion retailer’s new US-based owner, Ames Watson, setting the stage for it to acquire the UK business, Sky News reported.
The investor is said to have edged in front of other bidders during recent days, such as Touker Suleyman and Doug Putman.
Ames Watson is believed to have been seeking minimum financial guarantees for Claire’s UK arm as part of its talks with potential buyers.
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Sources close to the matter said on Wednesday (17 September) that Modella Capital had not yet agreed a separate deal with the administrators of the chain’s UK business, Interpath Advisory.
The sources said that although there was no guarantee that it would agree to the deal, its discussions with Ames Watson made the prospects of an agreement likely.
A Modella Capital spokesperson said that it did not comment on market rumours.
Claire’s collapsed into administration in August, placing more than 2,150 jobs at risk after failing to find a suitable buyer.
Last week, it was reported that Hilco Capital had re-entered the bidding for Claire’s UK and Ireland business.
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