STAFF at Clinton Cards face uncertain futures after the firm’s administrators announced the closure of 350 stores nationwide.
Zolfo Cooper, which was appointed as administrator to the retailer on Wednesday last week, revealed today (Wednesday) that all the firm’s Birthdays stores and about 200 Clinton Cards-branded shops will shut. About 2,800 full-time staff could lose their jobs.
The administrator said it would reveal “shortly” whether the Clinton Cards shops in High Street, Stamford and in the Burghley Centre, Bourne, will close.
The Stamford store employs six staff, with five at the shop in Bourne.
Joint administrator and partner at Zolfo Cooper, Peter Saville, said: “Given the sheer size of the Clinton Cards retail estate and the overall performance, we were left with no alternative to today’s difficult decision. “I am hopeful that the action we have taken will allow us to preserve value in the core underlying business, thereby allowing us and potential buyers to focus on a profitable and viable retail estate going forward.”
Shop closures will begin on Monday and will be completed by the end of June.