Dragons’ Den investor Touker Suleyman has emerged as one of the leading contenders to acquire the UK arm of Claire’s out of administration, with a proposal understood to preserve the Birmingham head office and a significant proportion of the store estate.
The bid is being weighed against rival interest from Modella Capital and Doug Putman, the Sunrise Records owner who rescued HMV in 2019.
Claire’s entered administration on 13 August 2025, placing 2,150 jobs and 306 stores (278 in the UK, 28 in Ireland) at risk. Interpath Advisory is keeping shops open while a buyer is sought, though online sales have been suspended during the process.
Modella Capital, which has tabled an offer for Claire’s UK according to Sky News, has been one of the most active retail investors of the past two years. It bought Hobbycraft from Bridgepoint in 2024 and this year acquired WH Smith’s UK high‑street business, now being rebranded TG Jones.
Modella also worked with fellow Dragon Sara Davies to rescue Crafter’s Companion in January via a pre‑pack deal handled by Interpath. In August, Maven Capital Partners became majority owner, with Davies increasing her stake after Modella exited.
The UK sale process is unfolding as Claire’s North American assets and intellectual property are set to transfer to Ames Watson under a deal announced on 20 August and now before the US and Canadian courts. Any UK transaction is therefore expected to require coordination with Ames Watson as IP owner.
Administrators at Interpath are running a competitive auction. Hilco Capital has re‑entered the frame after initially stepping back, adding to a crowded field of suitors.
The UK business recorded a pre‑tax loss of £4m on £137m of sales in the year to 3 February 2024. Globally, Claire’s operates in 17 countries with a store base previously cited at roughly 2,750. The group attributes its difficulties to intensified competition, shifting consumer spending and the migration away from pure bricks‑and‑mortar retail.
What happens next: Interpath is expected to prioritise bids that preserve the most jobs and stores while aligning with Ames Watson’s North American carve‑out. Any winning bidder would also need to negotiate the inherited lease liabilities across the UK and Ireland—an area likely to dictate how many shops ultimately survive.
Read more:
Touker Suleyman joins race to rescue Claire’s UK as Modella and HMV owner circle