Touker Suleyman joins the contest to save Claire’s UK with Modela and HMV owner Circle
Dragons’ Den Investor Touker Suleyman has become one of the main contenders in the UK division that failed to acquire Claire, and a proposal is understood to be aimed at retaining its Birmingham headquarters and a large portion of its store property.
The bid is contrary to the rival interests of Modella Capital and Doug Putman, the owner of Sunrise Records, which rescued HMV in 2019.
Claire entered the government on August 13, 2025, setting up 2,150 jobs and 306 stores on risk (278 in the UK and 28 in Ireland). Although online sales have been suspended in the process, Interpath Advisory is keeping the store open while seeking a buyer.
Modella Capital has made an offer to Claire’s UK and has been one of the most active retail investors in the past two years, according to Sky News. It purchased Hobbycraft from Bridgepoint in 2024, acquired WH Smith’s UK high street business this year, and is now renamed TG Jones.
Modella also worked with Dragon Sara Davies to rescue Crafter’s companions in January through pre-installed deals handled via InterPoth. In August, Maven Capital Partners became the majority owner, and Davies added stake after Modella exited.
With Claire’s North American assets and intellectual property to be transferred to Ames Watson under an agreement announced on August 20, and now the UK sales process is underway before the U.S. and Canadian courts. Therefore, any UK transaction needs to be coordinated with Ames Watson as the IP owner.
InterPath administrators are conducting competitive auctions. Hilco Capital initially took a step back and re-entered the framework, adding a crowded field of suitors.
The UK business recorded a pre-tax loss of £4 million in sales in the year on 3 February 2024. Globally, Claire operates in 17 countries and the store base was previously considered approximately 2,750. The group attributed its difficulties to intensifying competition, shifting consumer spending and disengaging migration from pure bricks and retail retail.
What happened next: Interaction is expected to prioritize the retained most jobs and shop bids, while being consistent with Ames Watson’s North American engraving library. Any winning bidder also needs to negotiate inherited lease liabilities across the UK and Ireland, an area that may determine how many stores it will eventually survive.
