BusinessBusiness RecoveryZolfo Cooper administrators close last of the Clintons stores

Zolfo Cooper administrators close last of the Clintons stores

Administrators close the remaining 76 stores at Clintons after failing to secure interest

ZOLFO COOPER administrators have announced that they are to close the last remaining Clinton Cards stores under their control.

Peter Saville, Simon Freakley (pictured) and Anne O’Keefe, partners at Zolfo Cooper, were appointed joint administrators to Clinton Cards and its subsidiaries, including Birthdays Retail, on 9 May 2012.

A statement from the administrators has said that they will close the remaining 76 stores under their control, bringing the tally of stores that have shut since its collapse to about 315.

Earlier this month, the administrators managed to sell 397 stores with a combined turnover of £212m to a subsidiary of American Greetings, Lakeshore Lending – saving about 4,500 jobs.

However, the administrators said that, due to deteriorating market conditions, there has been no interest in the remaining Clinton Cards portfolio and the last stores will close by 31 July.

Saville, partner at Zolfo Cooper, said: “It is with regret that we have had to take the decision to close the remaining stores.

“I would like to take this opportunity to thank all of the employees of the former Clinton Cards business we have worked with during the administration period for their professionalism and dedication and to wish them well for the future.”

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