FASHION accessories store Claire's denies it is considering a raft of British store closures.

It was earlier reported the company - which has stores in Taunton, Bridgwater, Street and Yeovil - was talking to restructuring firms regarding a number of options, one of which is thought to include a Company Voluntary Arrangement (CVA), a controversial insolvency procedure used to shed under-performing sites.

But Ron Marshall, CEO, said: "We have no plans for either a CVA or major store closures in the UK in the foreseeable future.

"Recently emerging from the chapter 11 process in the US has enabled us to financially restructure, reducing our debt by $1.9 billion and giving us access to $575 million in capital, so we are now in a better position than ever to be able to invest in the business further, especially in our vitally important store portfolio as we continue to grow and expand the Claire’s business.

"Any stores we do close or open in the UK would be as part of our normal course of business."

The news comes days after the chain's US parent company announced that it had emerged from Chapter 11 protection after filing for bankruptcy earlier this year.

Investment funds Elliott Management and Monarch have seized control of the US arm through a painful restructuring.

Fears that the UK chain could disappear from high streets mounted earlier this year after its US parent, Claire's Stores Inc, filed for bankruptcy.

The US company announced last week that it has now emerged from Chapter 11 protection, having restructured almost 2 billion US dollars (£1.5 billion) of debt.