Clintons considering store closures

Clintons is looking at closing shops and cutting rents across 332 stores. The greetings card chain’s chief executive informed landlords last week that 66 of its shops had been slated for closure, according to The Telegraph. In documents seen by The Sunday Telegraph, it was reported that around 90 of Clintons stores were loss-making and sales expected to decline. It is expected that creditors are to vote on the company’s proposals next month. A spokesperson for Clintons said: “Talks with our landlords are still ongoing but no decisions have been taken.” Established in 1968, Clintons entered administration in May 2012, which resulted in the closure of 350 outlets. The remaining 397 stores were purchased in June 2012 by US based American Greetings’ subsidiary Lakeshore Lending. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette