Greetings card chain Clintons has announced that its Chatham store will remain open as usual after the troubled company was rescued from administration this week.
It was initially reported that Clintons was considering to shut 1 in 5 of its stores through a process known as a company voluntary arrangement (CVA), which would have allowed the retailer to close under-performing stores and cut rents on others in response to its insolvency. However, this has been avoided after the company effectively bought itself out of administration by its existing owners. This means that the retailer's 334 stores - including the Chatham store inside the Pentagon Shopping Centre - and its 2,500-strong workforce will remain unaffected for now. Founded in 1968, the Clintons chain - formerly known as Clinton Cards - fell into administration in May 2012, closing nearly 200 of its own stores and all 139 Birthdays shops, which was a subsidiary of the retail group. The former Birthdays store in the Pentagon Shopping Centre was rebranded to the current Clintons store, while Clintons Cards near Primark closed its doors for the final time in July 2012 - now home to the Wisdom Hospice charity shop. Comments are closed.
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August 2023
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