Two Bidders Emerge for Claire's France, Offering Hope for 460 Jobs

In a significant development for the French retail sector, two companies have stepped forward with proposals to rescue Claire's operations in France, potentially saving nearly half of the company's workforce from redundancy. The bids submitted to the Paris Economic Activities Court represent a crucial lifeline for the struggling budget jewelry chain that has faced mounting challenges in the French market.

Bid Details and Employment Impact

The two companies presenting takeover bids include fashion jewelry retailer June, which has already secured authorization to operate the Claire's brand in France. June's proposal involves taking on 426 employees and maintaining 139 of Claire's approximately 240 existing retail locations. The second bidder, Spanish phone-case retailer La Casa de las Carcasas, plans to retain 34 employees and operate three shops where it would sell its phone accessories alongside Claire's products.

According to legal representatives for the employee representatives, these complementary offers appear financially sound and sustainable. Attorney Eve Ouanson described the proposals as capable of saving nearly 50% of jobs, providing significant relief for employees facing uncertainty since the company entered receivership at the end of July 2024.

Background of Claire's Financial Challenges

Claire's France, known for its affordable jewelry, piercings, and accessories targeting teenage consumers, has experienced a steady decline in in-store sales over recent years. The company cited this trend, exacerbated by US tariffs on Chinese products that Claire's heavily relies upon, as key factors leading to its financial difficulties.

Despite these challenges, Claire's France had managed to maintain profitability according to its most recent financial reports. The company generated a net profit of €1.3 million between late 2023 and late 2024, following €0.8 million in the previous financial year. This profitability makes the receivership proceedings particularly noteworthy in the retail sector.

Employee Protection Measures

A job protection plan (PSE) has been initiated for employees not included in the takeover proposals, with most expected to face redundancy. Trade unions have demonstrated responsibility by signing the agreement on this protection plan, working to minimize job losses as much as possible under the circumstances.

Attorney Khaled Meziani emphasized the collaborative approach taken by unions, stating they acted responsibly to limit damage in terms of employment. This cooperation between management, employee representatives, and potential new owners reflects the complex balancing act required in corporate restructuring situations.

Broader Corporate Context

The difficulties facing Claire's extend beyond France's borders. The company's US parent company declared bankruptcy in August 2024 before being acquired by an investment fund. Additionally, Claire's Spanish subsidiary declared insolvency in September 2024, indicating widespread challenges across the global organization.

In early September 2024, employee representatives raised concerns about what they described as serious irregularities in the company's management. They accused the US parent company of having emptied the company's financial resources through inter-subsidiary financial flows, though these allegations remain part of the ongoing legal proceedings.

Next Steps and Industry Implications

The Paris Economic Activities Court is scheduled to make a final decision on the takeover bids on November 14, 2025. The complementary nature of the two proposals suggests they may both be approved, creating a scenario where different aspects of Claire's French operations are managed by separate entities with distinct business focuses.

This development represents a critical test case for retail restructuring in France, particularly for international brands facing localized financial challenges. The outcome will be closely watched by industry observers as an indicator of how French courts balance employment preservation with commercial viability in the competitive retail jewelry market.