EIGHT Sudbury workers are at risk of losing their jobs after the country’s largest card retailer went into administration.
Clinton Cards, which operates 750 Clintons and Birthdays stores, including a shop in North Street, was placed into administration on Wednesday.
The announcement came after American Greeting, a US card retailer, bought the company’s debt from Barclays and the Royal Bank of Scotland – and called in the loan. It left Clinton Cards unable to repay a £35million loan.
An employee at the Sudbury store said she had been unaware of the company’s plans until she heard the news on television.
“We don’t know what is going to happen and I only heard about this watching the news on Wednesday evening,” she said.
“There are eight people who work here and everything is up in the air.”
Restructuring specialist Zolfo Cooper has been appointed administrator for the company and has conceded some stores will close.
Peter Saville, joint administrator and a partner at Zolfo Cooper, said: “We will continue to trade the business while we undertake a full marketing exercise to find buyers for all or parts of the group so that the best possible outcome can be achieved for stakeholders.
“It is likely that a number of stores will need to be closed in order to make the business financially viable.
“However, Clinton Cards and Birthdays are very well-known brands on the high street and we believe that there is a strong underlying core business.”