Some of you may be thinking that Clinton Cards has been sold to American Greetings Corporation. That is correct, but the sale didn’t include all of the commercial properties owned by Clinton Cards Plc.
American Greetings Corporation purchased 397 Clinton Cards commercial properties under its subsidiary Lakeshore Lending Limited. The sale cost the company around £212 million and safeguarded the jobs of over 4500 people throughout the UK. But unfortunately around 850 people were not so lucky.
76 Clinton Cards and Birthdays retail commercial properties were not included in the sale – which were most likely the least profitable stores. These stores are based throughout the UKand include: Belfast, Cardiff, Dudley, Holywell, Orpington, Stranraer, Thetford and Wandsworth. Birthdays stores closures include: Chester, Elgin, Glasgow, Kings Heath, Omagh and Southport.
The 76 stores will remain in the control of the administrators, Zolfo Cooper and will close their doors for good by 31 July 2012.
Speaking of the commercial properties, Administrator, Peter Saville said: “It is with regret that we have had to take the decision to close the remaining stores.
“We are nonetheless pleased that in an extremely challenging retail environment we were able to affect the sale of almost 400 stores thus preserving something in the region of 4,500 jobs.
“I would like to take this opportunity to thank all of the employees of the former Clinton Cards business we have worked with during the administration period for their professionalism and dedication and to wish them well for the future.”
But with the number of vacant commercial properties ever growing, surely this is bad news for the ever struggling high street. Do you think the ex-card shops will be acquired quickly, as Clinton Cards was known for its prominent locations on the high street?
Do you live in a town which will lose one the Clinton Cards or Birthdays commercial properties? Or were you an employee in one of the stores which is due to close?
