French jewellery entrepreneur Julien Jarjoura is reportedly exploring a rescue deal for the UK arm of Claire’s after the business fell into administration for the second time in less than a year.

Jarjoura is understood to be in discussions with the retailer’s administrators and landlords about a potential deal that could preserve “many” of its remaining UK stores and safeguard hundreds of jobs, according to reports.

The chain currently operates 154 stores in the UK after a wave of closures followed its most recent administration in January.

Jarjoura has already taken control of several of Claire’s European businesses over the past year, acquiring the retailer’s operations in Switzerland, Austria, Spain, France and Portugal after its US parent entered bankruptcy proceedings. Those deals gave him control of roughly 240 stores across the region.

Speaking about the potential rescue, Jarjoura said he believed the business was still worth saving.

“As an entrepreneur I could not bear the idea of letting go a business that was worth saving,” he said.

“I was in London a few weeks ago and landlords have responded in a really positive way.”

Claire’s has endured a turbulent period in recent years as changing consumer habits, rising costs and intense competition placed increasing pressure on the business.

The retailer first entered administration in the UK last year when around half of its 306 stores were sold through a pre-pack deal to private equity firm Modella Capital.

Modella had positioned itself as a potential saviour of struggling high street brands, having also acquired the high street arm of WH Smith and rebranded it as TG Jones.

However, Claire’s UK was placed back into administration in January alongside The Original Factory Shop, while Modella is also reportedly reviewing options for Wynsors.

At the time, the firm cited rising taxes and challenging high street trading conditions, saying neither business had “a realistic possibility of trading profitably again”.

Founded in the US in 1961, Claire’s arrived in the UK during the 1990s and became a staple of British shopping centres, particularly among younger shoppers.

Jarjoura believes the brand can still be revived, drawing on changes he has already implemented in the European businesses he controls.

Those efforts have included lowering prices, reducing reliance on heavy promotional activity and refreshing store formats.

According to reports, prices in the European stores have already been cut by around 28 per cent, while Jarjoura is said to be considering reductions of roughly a third in the UK as part of a broader turnaround strategy.

He is also looking to update the product range to better appeal to younger shoppers and European tastes while continuing to expand the brand across continental markets.

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