Touker Suleyman, investor and Dragon’s Den judge, has lodged a bid to acquire Claire’s UK arm, pledging to retain its head office and a significant proportion of its store network, SkyNews reports. The move could safeguard hundreds of jobs at the insolvent retailer.

Suleyman, who owns fashion brands Hawes & Curtis and Ghost, is competing with retail investor Modella Capital and HMV owner Doug Putman in the sale process being led by Interpath.

The sale requires the approval of both Interpath and Ames Watson, the private equity firm that last month acquired Claire’s global brand and up to 950 U.S. outlets. People close to the process said Suleyman’s proposal could preserve more jobs and stores than rival bids, though financial details have not been disclosed.

Claire’s employs over 2,100 people across 278 UK stores and 28 in Ireland. Interpath confirmed that all outlets remain open during the administration process while efforts continue to find a buyer.

The UK collapse followed Claire’s U.S. parent filing for Chapter 11 bankruptcy protection. The company had been previously owned by former creditors Elliott Management and Monarch Alternative Capital after a restructuring.

Will Wright, CEO of Interpath in the UK, said: “Claire’s has long been a popular brand across the UK, known not only for its trend-led accessories but also as the go-to destination for ear piercing. Over the coming weeks, we will endeavour to continue to operate all stores as a going concern for as long as we can, while we assess options for the company. This includes exploring the possibility of a sale which would secure a future for this well-loved brand.”

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