EMPLOYEES at a Bridlington card shop are expecting to hear about their future any day now.
Clinton Cards in the Promenades employs eight members of staff. It is part of the UK’s largest specialist greetings cards chain, with more than 750 stores across the UK, including the Birthdays chain, and employs over 8,000 staff.
The company went into administration on May 9, after Barclays and RBS banks sold its debts to American Greetings - which then called them in.
Peter Saville, Joint Administrator and Partner at Zolfo Cooper said: “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.”
“Our first priority is to stabilise the business and assess its financial position.
“It is likely that a number of stores will need to be closed in order to make the business financially viable. However, Clinton Cards and Birthdays are very well-known brands on the high street and we believe that there is a strong underlying core business. We are therefore confident that it is an attractive proposition for a range of potential buyers and welcome expressions of interest from third parties.”
All the Birthdays stores are to close, along with 200 Clinton Cards shops, with the loss of nearly 3,000 jobs. An announcement as to which stores will close was due last week but was delayed for ‘technical’ reasons.
It is understood that WH Smith has approached the administrators about the possibility of taking over the chain, although whether or not the Bridlington store might be part of any deal is not yet known.
In March the Game chain went into administration and the Bridlington store was one of 277 to be closed immediately, excluding it from potential sale as a going concern.