Update: Here’s the latest
An accessories retail chain with stores across the county is under threat and thought to be considering closing some of its UK stores, which could mean Lincoln losing yet another shop.
Claire’s, formerly known as Claire’s Accessories, has over 370 stores in the UK according to its most recent accounts and the company is said to be talking to restructuring firms about “a number of options”.
Claire’s, which offers ear piercing and jewellery, has a branch at the Waterside Centre in Lincoln, as well as other shops at Boston, Skegness, Spalding, Grimsby and Scunthorpe.
According to The Press Association one rescue plan being considered is a company voluntary agreement (CVA) where some stores are closed and rents are reduced on remaining stores.
If the brand presses ahead with a CVA hundreds of jobs could be at risk.
The news comes days after Claire’s US parent company emerged from bankruptcy protection, which aims at giving companies time to restructure their finances.
Tough High Street conditions have already had an effect on chains with Lincoln stores after Maplin and Toys R Us shut down earlier this year.
Last week, finance concerns also put the Patisserie Valerie brand of cafes at risk.
SUBSCRIBE to Business Week, the new email newsletter from The Lincolnite and Lincolnshire Reporter, bringing you weekly features, analysis and a news roundup of the top stories by Stonebow Media. Sign up free to receive it every Thursday morning in your inbox. We won’t spam you or share your details with third parties, we promise!