Hilco Capital considers acquiring troubled jeweller Claire's UK operations

The high street investor Hilco Capital, known for owning Lakeland and backing chains like HMV and Superdry, is considering a takeover of the UK operations of Claire's, the struggling jewellery chain.

Hilco Capital, a recent bidder for Poundland, is expected to submit offers for Claire's along with other parties like Alteri Investors and Modella Capital. Claire's has hired Interpath Advisory to find a buyer for its UK business as it explores options for its US-based operations, including bankruptcy.

Potential buyers have been warned that a sale of the British chain could result in many store closures. Retail industry experts predict that up to a third of UK shops could be closed, risking hundreds of jobs.

Claire's, with about 280 stores in the UK, has been a long-standing presence in British shopping centres and high streets. The US arm of the business is being advised on the sale by investment bank Houlihan Lokey.

The global chain, reported to have 2,000 stores, is currently owned by former creditors Elliott Management and Monarch Alternative Capital after a previous financial restructuring. Hilco Capital did not provide a comment when contacted.

According to the source: Sky News.