Clinton Cards goes into administration

Clinton Cards, Bridge Street, Worksop  (w120509-8)
Clinton Cards, Bridge Street, Worksop (w120509-8)

STAFF at Worksop’s Clinton Cards face a nervous wait after its biggest supplier said it planned to push the retail chain into administration.

The retailer, which employs more than 8,000 staff, operates 628 Clintons and 138 Birthdays stores and has requested its shares be suspended on the London Stock Exchange.

The move comes after its bands sold the company’s £35m of loans to its biggest supplier, American Greetings.

But whereas the banks had waived loan repayments, American Greetings announced on Wednesday this week it will push the company into administration.

For more on this story, pick up a copy of this week’s Worksop Guardian.