Administrators Zolfo Cooper have said that regrettably a decision has been reached to close approximately 350 shops, including all of its Birthdays branded stores.
The store closures will lead to the loss of 2,800 jobs.
Clinton Cards, which was placed in administration on 9 May, was founded back in 1968 and since has been the UK’s biggest card retailer employing more than 8,000 members of staff.
However, much like many other high street stores, the retailer hit troubled waters in March when a loss of £3.7m for the six months to the end of January was announced – making the outlook for 2012 very bleak.
The card company had £35m worth of loans to banks, which were later to sold on to supplier American Greetings.
Whilst the banks did agree to waiver certain loan conditions, American Greetings had pushed for repayments that Clintons simply could not meet.
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