Claire’s Collapse and Rescue Nets £7 Million in Administrator Fees

By the Editorial Team · Tuesday, September 22, 2026

Claire’s jewellery chain entered administration twice within six months, resulting in over £7 million in administrator fees and the closure of around 300 UK and Ireland stores, leaving more than 2,000 employees jobless. The significant costs and unsecured debts, totaling nearly £12 million, highlight the complexities of the rescue attempts and the likely inability of creditors to recover their losses.

The administration, rescue, and subsequent second collapse of the jewellery and accessories chain Claire’s has resulted in administrator fees potentially exceeding £7 million, according to recent filings. The company, which had operated for around three decades on the UK high street, was initially bought out of administration by the private equity firm Modella Capital in September 2025. However, the rescue effort quickly failed, leading to Claire’s second insolvency in January 2026 and the closure of approximately 300 standalone stores across the UK and Ireland. This left more than 2,000 employees without jobs and unsecured creditors, including suppliers and landlords, facing substantial losses.

The administrators from Interpath, who managed the original administration process including the deal with Modella, are seeking approval from creditors for fees totaling £7.2 million. This amount includes a proposed increase of £3.2 million, attributed to the additional complexities arising from the company’s second administration. Senior Interpath executives, such as UK Chief Executive Will Wright and Chris Pole, head of the Midlands and South team, have billed at hourly rates reaching £1,515. The average hourly charge for staff involved in the administration is reported to be around £883.

Unsecured creditors are unlikely to recover any of their approximately £11.9 million in outstanding debts, according to the administrators’ accounts. A spokesperson for the joint administrators described their involvement as “an uncharacteristically complex and demanding engagement.” During a 15-week trading period following their appointment in August 2025, the administrators were responsible for overseeing operations involving over 2,000 employees and more than 300 stores across multiple jurisdictions.

Modella Capital, the Mayfair-based private equity firm behind the purchase, has a track record of acquiring distressed retailers, some of which have subsequently collapsed. Among its past involvements are the failure of The Original Factory Shop and a major restructuring of WH Smith’s former high street outlets following a rebrand as TG Jones.

As part of the Claire’s deal, Modella established Cauki Limited, a new company that also entered administration under advisers from Kroll. Cauki reportedly owes approximately £10.6 million to unsecured creditors, with little expectation of repayment. Kroll’s recorded time costs for managing Cauki’s administration from late January to late July 2026 amount to about £2.2 million, reflecting an average hourly rate of £510. However, it is understood that no payments have yet been made to Kroll and that any eventual fees will likely be reduced.

Interpath emphasized that Claire’s “unique circumstances required a level of oversight and involvement well beyond that of a typical administration.” Modella declined to comment on the situation or administrator fees.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.