Hilco Capital is one of the likely bidders eyeing a takeover of the UK operations of stricken budget jewellery and accessories business Claire’s.
Claire’s
That’s according to Sky News, which has a strong track record on such stories. It said Hilco, which owns lakeland and is one of Superdry’s backers, is expected to be among the initial bidders for Claire’s UK.
The company was also recently a Poundland bidder although was ultimately unsuccessful with that acquisition target. As for Claire’s, initial offers are expected to come in during the next few weeks, according to Sky’s banking sources.
Other prospective bidders are likely to be Alteri Investors and Modella Capital (whose most recent big-name purchase was WH Smith’s high street chain).
The American company has been struggling for some time and as part of the rescue process that could include a bankruptcy filing for the parent business, the UK ops are expected to be sold. That would mean a significant number of its 280 UK stores closing, perhaps a third of them. Claire’s has around 2,000 stores globally.
