The greeting cards firm is reportedly facing financial difficulties and its third rescue since 2012.
Clintons, the greeting cards retailer, is set to shut around 20% of its shops in an effort to keep the company afloat.It would be the third time in 11 years that Clintons has faced acute financial difficulties - it had to be rescued in 2012 and again in 2019.The retailer has appointed restructuring experts FRP Advisory, which has declined to comment., Clintons has 179 shops and wants to close 38 of its outlets. It employs around 1,400 people.
The homewares company, which has been trading for 93 years, said that it had filed a "notice of intention" to appoint administrators. "However, this offer could not be executed in the timelines required, which is why we took the difficult decision this week to file an NOI," Mr Jackson added.However, in 2012 it was forced to file for administration and was rescued by American Greetings, a supplier owned by the US-based Weiss family.The family rescued Clintons from administration again in 2019. More stores were shuttered and job cuts continued.
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