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Struggling retailer Claire's Accessories has narrowly avoided falling into administration. The new deal will see thousands of jobs saved, although multiple stores will be closed. ‌

The high street staple called in advisors back in July to help with a last-ditch rescue plan , as it was facing an outstanding loan payment of $480million (£355million) that was due in December 2026. ‌

Joint administrators at Interpath have now confirmed that it has sold "substantially most" of the firm to Modella Capital, the same firm that owns TG Jones, Hobbycraft and The Original Factory Shop. ‌

The transaction will see 156 Claire's Accessories stores across the UK and Ireland continue trading and transfer over to Modella Capital ltd, saving around 1,000 jobs in the proces

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