THE fate of three Huntingdonshire Clinton Cards stores will be unveiled later this week.
The retail company’s administrators Zolfo Cooper has said that the business was burdened with “an untenable retail estate” and will be announcing the closure of half of the Clintons and, its subsidiary Birthdays, chain.
Approximately 350 stores, out of 784 nationwide, including Huntingdon, St Neots, and St Ives, and 2,800 jobs are at risk as the administrators seek to preserve the company’s value and sell it as a growing concern.
Peter Saville, joint administrator and partner at Zolfo Cooper, said: “Given the sheer size of the Clinton Cards retail estate and the overall performance, we were left with no alternative to today’s difficult decision. I am hopeful that the action we have taken will allow us to preserve value in the core underlying business, thereby allowing us and potential buyers to focus on a profitable and viable retail estate going forward.”
The closures are expected to be announced on Friday (May 18) and start next week and continue into June.
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