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French jewellery businessman Julien Jarjoura has reportedly launched a bid to rescue the British arm of Claire’s, following its second collapse into administration within a year, according to The Times.
It is understood that Jarjoura is in discussions with administrators at Kroll and company landlords, and proposed a plan to maintain Claire’s 154 UK shops.
News comes as Jarjoura acquired 240 Claire’s stores across France, Spain, Portugal, Switzerland and Austria over the last 12 months, following a sale after the American parent company filed for bankruptcy.
The businessman currently supplies jewellery to European fashion brands and institutions including the Louvre. Jarjoura claims to be the only candidate holding the necessary brand licences to facilitate a rescue.
Claire’s has faced significant instability since August 2025. The brand previously entered bankruptcy under owners including Elliott Management, citing competition and a shift away from physical retail.
Private equity firm Modella Capital purchased 156 UK stores via a pre-pack administration last year. Modella, which also owns TG Jones, placed the business back into administration in January.
Modella directors have blamed government tax rises and a difficult trading environment for the failure. They also stated the business had no realistic possibility of returning to profitability.
Rowland Schaefer founded the company in 1961. Originally a wig retailer, it transitioned into jewellery and launched in the UK during the mid-1990s.
Jarjoura intends to refresh the brand by renovating stores and expanding to 500 European locations. He plans to reduce prices by approximately 33% and remove promotional deals.
Jarjoura told The Times: “I was in London a few weeks ago and landlords have responded in a really positive way. Right now I think we are the only candidate with the brand licence and able to save as many stores as possible and as many people as possible.
“If you go in the shops now, you’ll see, for example, some of the bags, they’re not for young girls, they’re for mothers and grandmothers. Same with fashion jewellery. We need to give a clear message.”
Kroll and Modella Capital have been approached for comment.
