Local jobs could go as cards chain announces administration possibility
Clinton Cards, who operate a store at Newry’s Buttercrane Shopping Centre and one at The Quays, employs around 8000 people throughout the UK and is the biggest card retailer and also owns the Birthday’s chain of stores. The company released a statement today saying that they expected their biggest supplier – American Greetings – to put them into administration.
The announcement has not come as a surprise to most and in March 2012 Clinton Cards reported a loss of £3.7m in the six months to the end of January 2012 and claimed their outlook for 2012 was bleaker than what they had anticipated. The company said Barclays Bank and Royal Bank of Scotland had sold its loan facilities to American Greetings.
Newry Times understands that should Clinton Cards be forced into administration, administrators will continue to run the stores as normal while they seek to find a suitable buyer for the business. This could however, signal a wave of cuts and store closures which will lead to significant job losses.
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