Clintons to shut 1 in 5 stores

Clintons store closures Eddie Shepherd American Greetings
Clintons has told its landlords that 66 out of 332 sites have been earmarked for closure
// Clintons to close 66 out of its 332 UK sites
// The gifts & cards retailer is also demanding rent cuts on over 200 stores
// It is the latest ­retailer to seek concessions from high street landlords

Clintons has revealed plans to shut one in five of its 332 shops and is seeking rent cuts on more than 200 stores as it becomes the latest ­retailer to seek concessions from high street landlords.

On Friday, chief executive Eddie Shepherd held a town hall meeting with landlords to reveal the store closure plans while also demanding rent cuts, The Sunday Telegraph reported.

Restructuring documents revealed that an estimated 90 stores are currently loss-making with sales forecast to decline.

READ MORE: Clintons CVA on the cards

Creditors, including suppliers, are expected to vote on the proposals early next month.

Earlier this month, Clintons wrote to landlords to invite them to “town-hall” meetings to discuss a CVA.

In 2018, the gifts and cards retailer made sales of £188 million, down from £201 million the year before. Its losses narrowed from £19.4 million to £14.2 million in 2018.

Clintons currently employs 2500 people, is owned by the Weiss family, which until recently controlled sister business American Greetings.

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  1. Surprised they made it through 2008-2012 to be honest. The three pronged attack from rivals could be seen miles away. 1, Card Factory is cheap 2, Moonpig in convenient 3, Cards Galore opened stores nearer well healed and office workers who needed a quick card and gift at 10PM as they forgot a birthday or whatever (both price and convenient) Clinton Cards took over Birthdays and thought it was cherry picking stores and put the rest in administration when in fact it was sealing its fate.

    Clintons invested in nothing except a signage change.

  2. Sorry to the people that could be loosing their jobs. Update your CV and speak to card factory. And I agree with the above, horrible company to work for.


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