The double collapse of Claire’s UK could see administrators rack up fees of more than £7m, despite unsecured creditors facing multimillion-pound losses.
Interpath, which handled Claire’s’ first administration last year, is seeking approval for an additional £3.2m in fees after the process proved more complex and costly than initially expected.
The restructuring firm’s most senior staff charged hourly rates of up to £1,515, with the extra remuneration taking the potential bill from Claire’s two insolvencies beyond £7m.
However, unsecured creditors in the original Claire’s Accessories UK administration are not expected to receive any payout against claims totalling an estimated £11.9m.
Claire’s first collapsed in August 2025, when Interpath was appointed to oversee the UK business after its US parent filed for Chapter 11 protection. Companies House records show the administration officially began on 13 August.
A rescue deal was struck the following month with Modella Capital, which acquired 156 stores and preserved around 1,000 jobs, while a further 145 shops were left outside the transaction.
The rescued business was transferred into CAUKI Limited, formerly known as Modella Acquisition Co 10, but the turnaround proved short-lived.
CAUKI itself entered administration on 26 January this year, with Kroll appointed to oversee the process.
According to The Times, CAUKI owes around £10.6m to unsecured creditors, while Kroll has so far incurred advisory fees of roughly £2.2m which remain unpaid.
The second collapse ultimately led to all 154 remaining standalone Claire’s stores across the UK and Ireland closing in April, resulting in around 1,300 redundancies. Its concession estate was unaffected by the closures.
Combined with the stores lost in the first administration, more than 2,000 jobs were affected across the two insolvency processes.
Interpath has attributed the scale of its costs to the complexity of Claire’s international structure and the work required to keep parts of the business trading while seeking buyers.
Kroll has similarly pointed to the unusual nature of the second administration and the demands of managing the retailer across multiple jurisdictions.
Claire’s had struggled against weaker high street footfall, rising costs and mounting competition from lower-priced online fashion and accessories players including Shein and Temu.
The brand has since begun plotting a limited UK comeback under French jewellery entrepreneur Julien Jarjoura, who is seeking to reopen around 50 stores under licence after taking control of parts of Claire’s European estate.
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