May 24 2013 Latest news:
Robin Cottle, Reporter
Thursday, May 10, 2012
Up to 27 jobs in Bexleyheath are under threat as Clinton Cards has fell into administration yesterday.
The main shop on the Broadway has 19 workers as well as a further 8 in Birthdays, which is also owned by the company.
There is another store in Eltham which employs a further nine people.
Staff will now face an anxious wait to find out whether if they could lose their jobs.
Across the UK the national chain owns more than 750 stores and employs more than 8,000 staff. After 45 years of success in the greetings cards market, Clinton Cards struggled to survive in the recession and on May 9 was placed in administration.
Peter Saville, a partner at Zolfo Cooper, the administrator which has taken over the company, said closures and job losses were likely.
He said: “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.”
Those stores which are not closed will continue to trade while the administrators seek a buyer. Zolfo Cooper said Clinton Cards had accumulated losses in excess of £130m since 2004.