RETAILER Clinton Cards has gone into administration, leaving shops under threat of closure.
The firm, which has shops in High Street, Stamford, and North Street, Bourne, collapsed after failing to find a buyer for all or part of the business.
Administrators at Zolfo Cooper said the firm had suffered losses of £130 million since 2004 and it was likely that a number of stores would close.
Joint-administrator at Zolfo, Peter Saville, said: “Despite evaluating ways to restructure the business, Clintons was unfortunately unable to secure adequate support or funding for its restructuring plans.
“The challenging business environment, and in particular the increased competition for greetings cards and related products, meant that the group required radical restructuring, and administration was the last remaining option available.”