Accessories chain Claire’s is considering store closures in the UK.
The company is the latest to show signs of the difficult trading conditions and is reportedly in talks for a number of options, including a Company Voluntary Arrangement (CVA).
A spokesperson for the retail group said closing underperforming stores was “part of normal business practice”.
If Claire’s goes ahead with the CVA, hundreds of jobs could be at risk. The retail chain has over 350 stores in the UK and dozens of concessions.
The news has come just days after Claire’s US parent company emerged from bankruptcy protection.
The parent company emerged from Chapter 11 protection after restructuring almost $2 billion (£1.5 billion) worth of debt.
The company could be the latest retailer to be hit by the difficult high street trading conditions, which have led to the administration of Toys R Us and House of Fraser.
Other retailers to be affected have been Carpetright (LON: CPR), Mothercare (LON: MTC) and New Look, which have all used CVAs to close stores and cut jobs.
Ron Marshall, the group’s chief executive, said Claire’s is now “a healthier, more profitable company”.
Monday also saw Superdry announce a profit warning, sending shares down 20%.
