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High street chains start insolvency proceedings

The Guardian

|

January 06, 2026

The jewellery store Claire's and discount department store The Original Factory Shop are on the brink of administration, their owners said yesterday, putting 2,550 jobs at risk.

- Sarah Butler

Both chains are owned by Modella Capital, a private equity firm, which recently bought the high street arm of WH Smith - renamed TG Jones. Modella said the climate on UK high streets was "extremely challenging" and data suggested "an alarming drop-off in pre-Christmas footfall".

It said administration was the "only option" for Claire's and The Original Factory Shop, and it had started insolvency proceedings.

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