Two Bidders Vie for Claire's France Saving Hundreds of Jobs

Two distinct proposals have been submitted to the Paris Economic Activities Court, aiming to acquire the French operations of budget jewellery chain Claire's, which entered receivership at the end of July. These bids collectively propose to save 460 of the current 829 jobs, according to legal representatives of the employee unions who spoke to AFP.

The companies vying for Claire's France are fashion jewellery retailer June and Spanish phone-case retailer La Casa de las Carcasas. June, having already secured authorization to operate the Claire's brand, plans to take on 426 employees and acquire 139 of Claire's approximately 240 existing stores. La Casa de las Carcasas intends to retain 34 employees across three shops, where it would focus on selling phone accessories, a departure from Claire's traditional offerings.

These "complementary offers" are viewed positively and are highly likely to receive court approval on November 14th. Attorney Eve Ouanson described them as "sound and sustainable," emphasizing their potential to preserve "nearly 50% of jobs." For the employees not included in these takeover plans, a job protection plan (PSE) has already been initiated, which is expected to result in redundancy for most. Attorney Khaled Meziani noted that trade unions "signed the agreement on this PSE in a responsible manner to try to limit the damage in terms of jobs."

Claire's France, primarily known for its jewellery, piercings, and accessories for teenagers, faced receivership due to a sustained decline in in-store sales over several years. This downturn was further compounded by US tariffs on Chinese products, a key component of Claire's supply chain. Intriguingly, despite these challenges, Claire's France reported a net profit of €1.3 million between late 2023 and late 2024, and €0.8 million in the preceding financial year. A third, undisclosed takeover bid was initially presented but ultimately rejected by the court-appointed administrator.

The financial troubles of Claire's are not confined to its French subsidiary. The US parent company declared bankruptcy in August, subsequently being acquired by an investment fund. Similarly, Claire's Spanish subsidiary also declared insolvency in September, indicating a broader struggle within the global enterprise.

Adding another layer of complexity, employee representatives reported what they termed "serious irregularities in the management of the company" to the courts in early September. They accused the US parent company of having "emptied the coffers" of its subsidiaries through intricate "financial flows" between the group's numerous international entities. (Paris, 30 Oct 2025)