Two high street chains collapse into administration

• High street chains Claire's and The Original Factory Shop (TOFS) are being put into administration.
• This move places about 2,500 UK staff at risk of redundancy.
• Both retailers, which had previously undergone restructuring, were acquired by investment firm Modella Capital last year.
• Modella Capital said that “last-ditch” efforts to save the businesses failed, making administration the only option.
• The firm cited challenging retail conditions, including weak consumer confidence, adverse government fiscal policies, and continued cost inflation, as contributing factors.

IN FULL

Claire’s and The Original Factory Shop collapse into administration with 2,500 jobs at risk