Major UK high street chain ‘could close 100 stores’ as part of restructure

Another potential blow for the British high street.

Sky News reports that owner Modella is looking to replace its current lender, Secure Trust Bank, in a major financial overhaul that could put hundreds of jobs at risk which is a significant blow to a chain that employed roughly 5,000 people at the time of its WHSmith sale.

Alongside the lender switch, the proposals include substantial rent reductions across many of its remaining branches, with investment group Aurelius understood to be the frontrunner to step in as the new financial backer.

Modella acquired WHSmith's UK high street operation last year in a £76 million deal, with WHSmith retaining its more lucrative travel arm, covering airport and train station locations which continues to trade under its original name.

The news comes amid a turbulent period for the British high street.

Last month, Claire's became the latest casualty, shutting all 154 of its UK and Ireland stores and leaving approximately 1,300 workers facing redundancy.

All of Claire's standalone stores will be shut down while 350 concessions and its European stores will remain open.

Claire's was founded in 1961 as Fashion Tress Industries by Rowland Schaefer, initially focusing on fashion wigs before acquiring a jewellery chain and shifting to accessories in 1973.

All the locations where Claire's stores will be closing or are already closed

Here is the full list of locations of Claire's stores as per their website, before they all close tomorrow:

A

• Aberdeen — Trinity Centre
• Athlone — Golden Island Shopping Centre
• Aylesbury — Friars Square Shopping Centre

B

C

D

• Dalton Park — Dalton Park Outlet
• Darlington — Cornmill Shopping Centre
• Derby — Crown Walk
• Dublin (Liffey Valley) — Liffey Valley Shopping Centre
• Dublin (Swords/Pavilions) — Pavilions Shopping Centre
• Dundalk — Marshes Shopping Centre
• Dundee — Overgate Shopping Centre
• Dundrum — Dundrum Town Centre

E

• Eastbourne — Arndale Centre
• Edinburgh — Gyle Centre
• Edinburgh — Princes Street
• Edinburgh — Fort Kinnaird
• Enfield — Palace Gardens / Church Street area
• Ennis — Dunnes Shopping Centre
• Exeter — High Street

F

• Fleetwood — Freeport Outlet Village

G

• Galway — Eyre Square Shopping Centre
• Gateshead — Metrocentre
• Glasgow — Glasgow Fort
• Glasgow — Silverburn
• Gloucester — Kings Walk

H

• Hanley — Potteries Centre
• Harlow — Harvey Centre
• Harrogate — Victoria Shopping Centre
• Huddersfield — Kingsgate Centre
• Hull — Princes Quay Shopping Centre

I

• Ilford — The Exchange Shopping Centre
• Inverness — Eastgate Centre
• Ipswich — Buttermarket Centre

L

M

• Mahon — Mahon Point Shopping Centre
• Manchester — Arndale
• Manchester — Trafford Centre
• Mansfield — East Midlands Designer Outlet
• Milton Keynes — Centre:MK

N

• Newbridge — Whitewater Shopping Centre
• Newcastle — Eldon Square
• Newtownabbey — Abbey Centre
• Northampton — Grosvenor Centre
• Norwich — Castle Quarter
• Norwich — St Stephens
• Nottingham — Victoria Centre

O

• Oldham — Spindles Town Square
• Oxford — Westgate Shopping Centre

P

• Peterborough — Queensgate
• Peterborough — Serpentine Green
• Plymouth — Drake Circus
• Poole — Dolphin Centre

R

• Reading — The Oracle
• Redhill — The Belfry
• Romford — Liberty Shopping Centre

S

T

• Taunton — Orchard Centre
• Telford — Telford Shopping Centre
• Thanet — Westwood Cross
• Thurmaston — Thurmaston Centre
• Thurrock — Lakeside
• Truro — Lemon Quay
• Tunbridge Wells — Royal Victoria Place

U

• Uxbridge — The Chimes

W