Modella Capital news and archive

The Original Factory Shop closes UK stores

The Original Factory Shop (TFOS) has closed all of its UK stores after collapsing into administration. The company has confirmed the closure of its 137 stores and Bolton headquarters, marking the end of its 50 years in trading. Administrators from Interpath confirmed that the company would be winding down to the media earlier this month. The...

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Business

Claire’s and The Original Factory Shop enter administration proceedings

This week has been yet another rife in administration proceedings. Claire’s UK and Ireland operations have officially collapsed, as has discount retailer The Original Factory Shop (TFOS), collectively putting around over 2,180 jobs at risk. Both companies are owned by Modella Capital. Claire’s administration was confirmed to Sky News on Monday,...

Retail

Claire’s reportedly set to close up to 145 stores across UK

Accessories retailer Claire’s is believed to be preparing to shutter 145 stores across the UK and Ireland on the back of securing a new owner for its business in the two regions. The move comes after Modella Capital stepped up to rescue the retailer from administration last week. The deal, however, only involved the purchase of 156 Claire’s...

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Modella saves 156 Claire's UK stores, future uncertain for remaining stores

The future of the iconic high street retailer Claire's has been partially secured after specialist investment firm Modella Capital agreed to acquire more than half of its business and assets in the UK and Ireland. The deal, confirmed by administrator Interpath, involves the purchase of 156 Claire's stores for an undisclosed sum, a move that...

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Business

Claire's UK: Hilco, Modella, and Doug Putman vie for acquisition

According to media reports, Hilco Capital has re-entered the race to acquire the UK and Ireland business of Claire's, just weeks after initially pulling out. The move comes as Claire's, which went into administration on August 13, seeks a buyer to save its 306 stores and 2,150 jobs. Hilco Capital joins a list of prospective buyers that includes...