The future of one high street retailer is secured.

While there’s a definite chill in the air, we hope it’s not caused by your business slowing down. 

As we move into the golden quarter, hopefully you’ll be able to spare a few moments to catch up on all the interesting and important business & insolvency news stories you might have missed from the past seven days. 

So if you want to know what directors need to know about HMRC restarting Direct Recovery of Debts (RDR); the new Covid Repayment Amnesty; why business insolvencies continued to remain steady last month; how an MVL unlocks tax efficiency for directors; and six essential considerations about Directors’ Loan Accounts in insolvency – you can read all these stories and more at our advice centre page.

Claire’s Accessories

The famous retailer has secured a sale of the majority of its business and assets out of administration to a buyer that will preserve approximately 1,000 positions but does not include almost 150 stores across the country. 

Administrators confirmed that the business and assets of Claire’s Accessories UK Ltd had been sold to Modella Capital, which recently became the owner of WH Smith’s high street business which it renamed TG Jones. They also own TJ Hughes, Hobbycraft and The Original Factory Shop brands. 

Administrators confirmed that 145 stores were not included as part of the transaction and that these stores would remain open and will continue to trade while they continued to assess options for them. 

Claire’s was founded in 1961 and became a staple of British shopping centres and high streets offering ear-piercing services and jewellery that was particularly popular among teenagers. 

Joseph Price, managing director of Modella, said: “As a firm, we strongly believe that this much-loved brand deserves the chance to remain on the high street in the UK and Ireland. The issues that Claire’s is facing are significant and we will need to work collaboratively with all interested parties if our proposed rescue plan is to succeed.”

Butterwicks

A popular Midlands bakers has closed 12 of its 14 sites with immediate effect and is closing via voluntary liquidation. 

Butterwick are based in Northamptonshire and acknowledged that the decision was made with “deep regret”, citing rising operating costs and changes in customer spending as the reasons behind the closures and decision to enter a Creditors Voluntary Liquidation.

62 positions have been made redundant as a result. 

Poole Bay Warehousing

Two connected haulage operators based in Dorset have gone into administration with 40 positions at risk as a result. 

Both Poole Bay Warehousing and Three Legged Transport operate out of the same base in Woolsbridge with Poole Bay operating 15 lorries and employing 18 members of staff while TLT operates 12 and has 20 employees. 

Beech’s Fine Chocolates

A chocolate factory that has been operating in Preston for over 100 years has closed and gone into insolvency. 

Beech’s Fine Chocolates employed 40 members of staff and had been producing artisan chocolates in the Deepdale area of the city since 1920. 

The directors said that the increasing cost price of chocolate had made the operation unsustainable with prices increasing four times this year alone. Many other raw materials also went up along with energy prices.

Andrew Whiting, chairman of the firm, cited the cost of cocoa. He said: “A tanker last year cost £24,000. Now it costs £78,000. The equivalent of a 300% tariff”. 

While prices rose 20% and was passed onto customers, it could not cover the increase in costs in the run-up to Christmas. 

The firm also launched a special range in collaboration with African royalty. They produced chocolate using cocoa beans from the Eti-Oni province in Nigeria. His Royal Majesty Oba Dokun Thompson Gureje IV and Queen Angelique-Monet visited Preston to launch the bars in 2024. 

The money made from the bars went back to the Eti-Oni province, which is home to Nigeria’s oldest cocoa plantation.

Frame Trade Windows Pre-pack

A Nottingham window and door manufacturer has been acquired in a deal that protects 20 jobs in the area. 

Frame Trade Windows was originally formed in 2003 and specialised in UPVC and aluminium manufacturing of double-glazed windows, conservatories and doors across the Midlands.

The business faced challenging conditions amid a loss of trade due to the pandemic; had to replace a key piece of machinery and suffered extensive damage and disruption to operations following flooding at the factory in 2023. 

Managing Director of new owners The Regal Group, Jason Manford said: “We had worked with Frame Trade UK for years and felt it would be a good fit with our existing group of companies and could add production capacity. 

“Given the existing customer base and additional demand from within the group, I’m confident that the business can become profitable and we can secure the future of the employees for years to come.”

There are still three months left in 2025 – which still gives you enough time to find out what changes you can make to help restructure and rebuild your business. 

Get in touch with us today to chat with one of our advisors about what options you’ve got on the table – usually more than you realise!

The sooner you make contact, the sooner you can begin to move forward to better times ahead.