Claire’s has been saved from administration under a deal which will retain 156 of its shops and roughly 1,000 jobs.
Modella Capital has agreed to buy most of Claire’s UK, administrators from Interpath, which led the sale process, have confirmed.
An additional 145 stores are not included as part of the deal.
It comes after the accessories giant fell into administration in the UK and Ireland on 13 August, placing 2,150 roles at risk.
Interpath managing director Natasha Harbinson said: “We are pleased to confirm a sale of the majority of Claire’s UK business and assets which will ensure this popular brand will continue to trade on high streets up and down the UK.”
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She added that the administrators had secured a sale of the company’s Swiss arm, while talks would continue regarding the future of Claire’s other businesses in Italy, France and Poland.
The UK shops that are not currently included in the deal will stay open and continue trading while the administrators continue assessing their options.
Interpath UK chief executive and joint administrator Will Wright said: “Our intention is to continue to trade the remaining portfolio of stores for as long as we can, while we explore the options available.”
Modella Capital managing director Joe Price added: “We strongly believe this much-loved brand deserves the chance to remain on the High Street in the UK and Ireland.”
He noted that the retailer was facing “significant” issues and that the private equity firm would have to “work collaboratively with all interested parties” for the rescue plan to succeed.
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