St Albans branch of Clinton Cards escapes closure
PUBLISHED: 15:39 23 May 2012
ADMINISTRATORS have confirmed that the St Albans branch of Clinton Cards is to remain open for the time being.
Peter Saville, Simon Freakley and Anne O’Keefe were appointed joint administrators of Clinton Cards Plc and its subsidiaries, including Birthdays Retail Limited, on May 9.
It was announced last week that a number of stores are to close before the end of May, but exact locations were not announced until today (Wednesday).
Imminent closures include 25 Birthdays traded stores and 19 Clinton Cards branded stores which will close over the forthcoming days, affecting a total of 300 full and part time staff.
The St Albans store in the city centre is not currently earmarked for closure, but still faces an uncertain future. A decision regarding the remaining stores is to be finalised over the coming weeks.
Peter Saville, Joint Administrator and Partner at Zolfo Cooper said: “Since our appointment, we have been seeking to preserve value and sell the core underlying business as a going concern. We have received expressions of interest from a number of third parties and are confident that the remaining retail estate will be better placed going forward.”