The Dragons’ Den choose Touker Suleyman has tabled a bid to rescue Claire’s, the ailing equipment retailer, with a pledge to retain its head workplace and a major chunk of its British retailer portfolio.
Mr Suleyman, who owns the menswear model Hawes & Curtis and womenswear label Ghost, is known to have lodged a proposal which might hold a lot of Claire’s present enterprise intact.
Sources mentioned on Tuesday that Mr Suleyman and Modella Capital, the retail investor, have been now the 2 likeliest consumers of the retailer’s UK operations, with Doug Putman, the HMV proprietor, additionally having made a proposal.
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Bidders for Claire’s British arm should safe approval for a deal each from Interpath and Ames Watson, a personal fairness agency which final month agreed to purchase Claire’s model and as much as 950 of its US shops.
The remaining events within the UK sale course of are additionally understood to have held talks with the brand new brand-owner.
Mr Suleyman has grow to be a outstanding determine by advantage of his decade-long involvement within the BBC TV present.
His involvement within the Claire’s public sale pits him towards the brand new proprietor of WH Smith’s excessive avenue empire, Modella Capital.
Picture:
Touker Suleyman. Pic: Ken McKay/ITV/Shutterstock
Individuals near the method mentioned Mr Suleyman’s proposal was prone to save a bigger variety of jobs and retailers than Modella’s, though the phrases of both’s proposals have been unclear.
Claire’s employs greater than 2,100 individuals within the UK and Eire, the place it trades from 278 and 28 shops respectively.
Interpath mentioned final month it could hold all retailers open whereas it assessed choices for the enterprise.
Claire’s, which has been a fixture in British procuring centres and city centres for many years, is likely one of the largest excessive avenue chains to fall into insolvency this 12 months.
It has a selected following amongst teenage consumers.
The corporate had been working a sale course of previous to its appointment as directors, however didn’t handle to safe a solvent deal.
The retail business has been left reeling by the employers’ nationwide insurance coverage hike introduced by Rachel Reeves, the chancellor, final autumn.
Each Poundland and River Island just lately survived creditor votes, paving the best way for them to slash rents and shut dozens of shops.
The collapse of Claire’s UK operations got here per week after its US mum or dad firm filed for Chapter 11 chapter safety.
The corporate had been owned by former collectors Elliott Administration and Monarch Various Capital following a earlier monetary restructuring.
Will Wright, UK chief government at Interpath, mentioned final month: “Claire’s has long been a popular brand across the UK, known not only for its trend-led accessories but also as the go-to destination for ear piercing.
“Over the approaching weeks, we are going to endeavour to proceed to function all shops as a going concern for so long as we are able to, whereas we assess choices for the corporate.
“This includes exploring the possibility of a sale which would secure a future for this well-loved brand.”
Neither Mr Suleyman nor Interpath could possibly be reached for remark.
