Retail Destination
    • FREE Email Newsletters
    • About Us
    • Advertise
    • Contact Us
    • Subscribe
    Twitter
    Retail Destination
    • News
      • Acquisitions
      • Appointments
      • Facilities
      • F&B
      • Footfall
      • Marketing
      • Store opening
      • Store signing
      • Technology
    • Development
      • Construction
      • Investment
      • Leasing
      • Planning
    • Products & Services
    • Sponsored Content
    • Events
      • Sceptre Awards 2024
      • Retail Destination Live 2025
    • Digital Editions Archive
    Twitter
    Retail Destination
    Investment

    Clintons rescued from administration

    Iain HoeyBy Iain HoeyDecember 5, 20192 Mins Read
    LinkedIn Facebook Twitter Email
    Share
    Facebook Twitter LinkedIn Email

    Card retailer seals rescue deal with existing owners

    Clintons, the card retailer, has been bought out of administration in a pre-agreed deal with the chain’s existing US owners, the Weiss family, who regained control immediately after it was put into administration.

    The deal follows Clintons failed attempts to win support from landlords for a company voluntary arrangement (CVA) under which it wanted to cut rents and close up to 66 stores.

    Clintons previously fell into administration in 2012. The card retailer has faced competition from discounter Card Factory and began contacting out landlords last month about a restructure.

    The administration deal has safeguarded jobs for the group’s entire workforce and all 334 stores will continue to trade. It also removes tens of millions of pounds of debts owed to suppliers.

    Eddie Shepherd, chief executive of Clintons, said: “We are pleased to have been able to secure the future of the Clintons business, protecting all of our talented 2,500-strong workforce and ensuring continuation of trade across all of our UK store network at what is a crucial time of the year for the business.

    “Like so many of our fellow high street retailers, we have worked tirelessly to contend with the maelstrom of issues impacting the sector, from business rates pressures, to fragile consumer confidence and the lack of clarity around the taxation of online retail businesses.”

    Previous ArticleGuildford welcomes Design Vintage
    Next Article Council approves Albert Embankment plans
    Iain Hoey

    Read Similar Stories

    Wellbeing in retail

    June 20, 2024

    Sterling acquires British Airways pensions property portfolio for £236M

    June 19, 2024

    Osprey Charging to partner with NewRiver REIT PLC

    June 14, 2024
    Latest News

    MINISO set to open at Braehead

    May 9, 2025

    Outdoor cinema returns to Braintree Village

    May 8, 2025

    UK retail footfall rises despite spending squeeze

    May 8, 2025
    Sponsored Content

    Why Destination Retail is Charging the Way Forward for the UK’s EV Infrastructure

    May 1, 2025

    Powering retail growth: charging ahead towards net zero

    October 1, 2024

    Twin Benefits

    May 30, 2024
    © 2022 Lewis Business Media. All Rights Reserved.
    Lewis Business Media, Suite A, Arun House, Office Village, River Way, Uckfield, TN22 1SL

    Privacy Policy | Cookie Policy | Terms & Conditions

    • Retail Destination Live
    • Sceptre Awards

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “ACCEPT ALL”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsREJECT ALLAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the ...
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
    cookielawinfo-checkbox-analytics1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Analytics" category .
    cookielawinfo-checkbox-functional1 yearThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Necessary" category .
    cookielawinfo-checkbox-others1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to store the user consent for cookies in the category "Others".
    cookielawinfo-checkbox-performance1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to store the user consent for cookies in the category "Performance".
    PHPSESSIDsessionThis cookie is native to PHP applications. The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. The cookie is a session cookies and is deleted when all the browser windows are closed.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    CookieDurationDescription
    _ga2 yearsThe _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
    _gat_gtag_UA_31822138_191 minuteSet by Google to distinguish users.
    _gid1 dayInstalled by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    CookieDurationDescription
    OAID1 yearThis cookie is set when an AdsWizz website visitor have opted out the collection of information by AdsWizz service or opted to disable the targeted ads by AdsWizz.
    SAVE & ACCEPT
    Powered by CookieYes Logo