Floundering greetings cards retailer Clinton Cards is to close a further 17 stores by Friday, its administrators have announced this afternoon.
Zolfo Cooper, appointed by American Greetings Corporation which purchased the retailer’s outstanding debt from lenders, said today that these additional units will cease trading by July 6th 2012.
While the brand and core assets of the business were sold to Lakeshore Lending Limited in early June, 330 stores were not included in this sale, remaining under the control of Zolfo Cooper.
Last month, a total of 212 stores were closed by the administrators and a statement from the company today said: “The Joint Administrators are still focusing their efforts on the stores identified as part of the closure programme announced on 16 May 2012.”
The restructuring specialists, which also acts as an administrator to Clinton Cards subsidiaries including Birthdays Retail Limited, provided a full list of stores to close, available below.
Birthdays stores to close:
Biggleswade, Blackpool Victoria St, Bolton Middlebrook, Gateshead, Gravesend, Hastings, Lurgan, Oxford (Pure Party), St Helens, Washington, York
Clinton Cards stores to close:
Dumfries Loreburne Ctr, Hertford, Musselburgh High St, Newry The Quays, Strand London, Victoria Stn London