Clinton Cards PLC administrators have announced that 25 Birthday stores and 19 Clinton Cards commercial properties will close their doors for good before next month. The closures will result in around 300 job losses spread out all over the UK – a figure which is far less than was first thought.
Prior to the recent announcement by Zolfo Cooper, it was first speculated that all the 139 Birthday shops and approximately 200 Clinton Cards commercial properties would permanently close their doors this month. This would have resulted in job losses of almost 3000.
| The 25 birthdays commercial property store closures are located in | The 19 Clinton Cards commercial property store closures are located in |
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Further store closures are expected in the next months as a buyer is sought for the company, but it is not expected to be on the scale that was initially thought.
Speaking of the closures, Zolfo Cooper Administrator, Peter Saville, stated: “We have received expressions of interest from a number of third parties and are confident that the remaining retail estate will be better placed going forward.
“It appears unlikely, however, that we will be able to find a buyer for the majority of the Birthdays stores and our analysis highlights that we cannot justify continuing to trade certain Birthdays and Clinton Cards stores into June. As a result, there is no alternative option but to close these 44 stores in May.”
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