Card chain Clintons 'considering plans to close a fifth of stores'
manchestereveningnews.co.ukCard chain Clintons, in another potential blow to the high street, is considering plans to shut 38 shops in a bid to avoid insolvency, according to reports today.
It is understood the high street retailer, which has stores in Manchester, Salford, Denton and Wilmslow and was previously branded as Clinton Cards, has appointed restructuring experts from FRP Advisory as it seeks to secure its future.
The business is looking at a move which could see the firm swap its debt for equity and shut about a fifth of its estate of 179 shops, according to the Times. Try MEN Premium for FREE by clicking here for no ads, fun puzzles and brilliant new features. The newspaper reported that the business had considered a merger deal with rival Paperchase earlier this year.
However, Paperchase saw its brand and intellectual property bought by Tesco in January after it entered administration, and its stores ultimately closed for good.
Read more on manchestereveningnews.co.uk