High street retailers Claire's and The Original Factory Shop are being put into administration, risking 2,500 jobs.
It comes amid a turbulent time for Claire's, popular with tweens for its brightly coloured accessories, which was seeking a buyer after its US owner filed for bankruptcy last year.
Modella Capital, which owns both chains, said the retailers would enter insolvency proceedings across the UK and Ireland. The administration will give them breathing space to find a new buyer.
Modella said tough trading conditions and "alarming" low Christmas trading left both in a "vulnerable" position.
Claire's has 154 stores and 1,355 staff, while The Original Factory shop has 140 stores and 1,220 staff.
