PricewaterhouseCoopers administrators Michael Jervis and Nick Cropper, have completed the sale of specialist card and gift retailer, Greeting Card Group, folllowing a management buy out led by Alan Fort, the new chairman of the business.

The sale will secure employment for approximately 1,500 employees and the continued operation of just under 300 stores across the UK.

The new business will continue to be run by the existing CEO of the Greeting Card Group, Milton Guffogg

The Greeting Card Group has its head office in Peterborough and is the second largest specialist card and gift retailer in the UK.

Jervis, partner and joint administrator, said: ‘Following a rigorous process, during which significant interest was expressed in the Greeting Card Group business, I consider the management buy-out offer to be in the best interests of all. The accepted offer not only provides the highest price, and secures the most jobs, but also provides strong management experience.’

Further reading:

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