Clintons continues to struggle after attempts to find a buyer fail
Concerns are growing over the future of greeting cards retailer Clinton Cards after attempts to find a buyer for all or parts of the business failed.
It has been reported that the Clintons is considering an insolvency procedure to enable the closure of a number of underperforming stores as it looks to cut costs. The group is also said to be looking to approach landlords in an attempt to secure cheaper rents for selected store locations.
Chief executive, Darcy Wilson-Rymer, who completed his strategic review of the business last Friday, is expected to present his findings and recommendations for the business to investors and other stakeholders over the coming days.
In the 26 weeks to end January Clintons made a £3.7 million pre-tax loss compared to a profit of £11.7 million in the same period in the previous year.
The group currently operates 328 Clinton Card stores in the UK together with 139 Birthdays outlets.
