The administrator of Clinton Cards, Zolfo Cooper, has announced that today, Thursday June 7, it has concluded the sale of this business to Lakeshore Lending Limited, a subsidiary of American Greetings Corporation. Commenting on the sale, Peter Saville, Joint Administrator and Partner at Zolfo Cooper said the following: “We have always been of the view
American Greetings acquires Clinton Cards Read More »
Speculation that giant US greetings card publisher American Greetings is to buy Clinton Cards out of administration continues to intensify. WH Smith, Card Factory and others (12 in total) have also expressed a strong interest in acquiring Clinton Cards but would have to stump up more than the retailer’s £10 – 20 million market value
American Greetings edges closer to a deal for Clinton Cards Read More »
Clinton Cards is likely to be bought out of administration within the next couple of weeks as possible buyers compete for the spoils of what was once the UK’s most iconic retailer of greetings cards. Earlier in May the retailer’s main supplier, American Greetings, bought the £35 million of bank debt owed by Clinton Cards
Clinton Cards’ chief executive Darcy Willson-Rymer, who joined the struggling retailer in October 2011 and rapidly embarked upon a turnaround plan, is thought to be one of the early casualties as the company collapses into administration. Administrator Zolfo Cooper is understood to have removed the former Starbucks chief out of the business as WHSmith joins
Clinton’s chief executive ousted from the business Read More »
The specialist greetings card retailer Clinton Cards has suspended shares on the stock exchange and it’s major supplier, American Greetings, has acquired its £35 million loan facilities from Barclays and the Royal Bank of Scotland. After agreeing to take on the debt, American Greetings announced to the Clinton Cards board that it intends to enforce
Clinton Cards enters administration after American Greetings enforces debt Read More »
Yorkshire greetings card retailer Card Factory is seeing its profits soar while rival chain Clinton Cards experienced a £10.6 million year-end pre-tax loss and reduced revenues. The latest figures from Wakefield-based Card Factory showed that pre-tax profits in the year to 31 January 2011 rose enormously from £35.6 million to £55.6 million following its sale
Card Factory sees massive upswing in profits Read More »
We use cookies to improve your experience on our site. By using our site you consent to cookies.
See our privacy statement for more information
By signing up to our newsletter you agree with our privacy policy