Printer Friendly

Clinton puts Birthdays into administration.

Summary: Around 2,100 jobs are at risk after Birthdays greetings card business was placed into administration.

Around 2,100 jobs are at risk after Birthdays greetings card business was placed into administration.

Clinton Cards, which owns the 332-store chain, said it had taken the "difficult decision" that it could "no longer continue to provide funding to its loss making subsidiary".

The deterioration in the economy had added to Birthdays' already struggling business and Clintons said 50 per cent of all the brand's stores are now loss making.

Administrators Zolfo Cooper will "explore all options available to secure the future of the Birthdays' business" and it will continue to trade as normal.

Clinton Cards stores, which employ around 6,200 staff in 692 shops, are unaffected by the move and will continue to trade as normal.

The group's chairman Don Lewin said: "It is with deep regret that we have taken the decision to place the Birthdays' business into administration.

"Everyone at Birthdays has worked tirelessly to try and turn the business around and I would like to thank everybody for their hard work and dedication over the past five years."

But he said Clintons could not sustain supporting Birthdays' losses of around Au7 million a year with "limited opportunity to improve on that performance in the foreseeable future".

Clinton Cards bought Birthdays in December 2004, but the chain has not been able to shake off its troubles.

Independent Television News Limited 2009. All rights reserved.

Independent Television News Limited 2009. All rights reserved.

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Independent Television News Limited (ITN)
Date:May 22, 2009
Words:262
Previous Article:Duck island Tory to stand down.
Next Article:High street in spending 'bounce'.
Topics:


Related Articles
Shop and awe; BOMBSHELLS HIT BIRTHDAYS AND JJB SPORTS.
Shop and awe; BIRTHDAYS AND JJB SPORTS CHAINS FACE BATTLE.
Clinton puts Birthdays into administration.
Clinton puts Birthdays into administration.
Clinton puts Birthdays into administration.
Clinton puts Birthdays into administration.
Clinton puts Birthdays into administration.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters