UK retail giant collapsed into administration owing £20m

Claire’s Accessories UK and Ireland entered administration in January after failed rent negotiations, the threatened loss of a major concession partner, weak trading and rising employment, tax and business-rates costs, leading to the closure of 154 stores and 1,300 redundancies, with £5.5 million owed to a secured creditor, £2.3 million to preferential creditors and £10.5 million to unsecured creditors, who are expected to recover only through the prescribed part.

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