Claire’s warning issued to UK shops by liquidation expert

Three Oxfordshire stores have been left empty as Claire’s has recently-announced the closure all 154 UK and Ireland branches, with 1,300 jobs lost in the process.

The move does not impact the retailer’s 356 concessions, including many in Asda stores, and its head office.

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However, it did include the shops in Didcot and Witney as well as the Oxford Westgate store.

Last year, two stores in Banbury, at the Castle Quay Shopping Centre and Banbury Gateway Shopping Park, also permanently shut.

Considering this, the director at insolvency practice Liquidation Centre, Richard Hunt, has warned the current economic climate is increasing risks to retail businesses.

Claire’s has closed all of its 154 UK and Ireland stores including three in Oxfordshire. (Image: Newsquest)

Mr Hunt said: “It is much easier to lose customers than to retain them, which is why regular market research and competitor analysis are so essential.

“Staying ahead of the curve as conditions evolve is critical to long-term survival.”

Mr Hunt said that Claire’s failed to move with the times as its jewellery and accessory products fell out of fashion.

“Claire’s products didn’t cater to this change,” he said.

“Their brand image became more ‘dated’ as time moved on, further weakening its appeal in a highly competitive and fast-moving market.”

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In terms of the wider high street, the director warned that increasing business rates and declining footfall are having a major impact.

He advised that businesses under pressure must conduct clear and honest reviews of income and expenditure, and that seeking advice from a insolvency practitioner can help.

Mr Hunt said: “If a business reaches the point where liquidation becomes a risk, swift action is vital.”