The parent company of Clintons has denied reports that some of its stores have been earmarked for closure.
Over the weekend and on Monday it was reported in various news outlets that American Greetings was reportedly considering the closure of over a quarter of Clintons‘ UK high street stores, putting hundreds of jobs in jeopardy.
American Greetings have since released a statement denying such reports.
“Reports in the weekend papers about Clintons are false,” the company said.
“In the last five years, parent company American Greetings has invested £multi-million in a major store refurbishment programme, and there are plans in place for further investment going forward.
“Every retailer reviews its store portfolio on a store by store basis as individual leases come up for renewal, and whilst it is impossible to rule out individual store closures at some point in the future, we can confirm there are no plans to undertake a major store closure program as the reports claim.
“On the contrary, we have new store format trials underway and are actively reviewing new sites.”
Clintons was saved from administration by the US-based company in 2011, but still owes its parent company £45 million.
Clintons spent £1 million last year in its refurbishment programme compared to £14 million the year before.