Clintons store in Halstead under threat as high street chain enters talks to try and avoid collapse
Greetings card shop Clintons is the latest prominent high street name to find itself in talks, in an effort to avoid collapse.
The chain is in talks with landlords over rents – a move which many believe could lead to it entering a company voluntary arrangement (CVA).
Such an arrangement would see those the company owes money to agree to longer, or reduced, payment terms to allow the business to continue.
Clintons has some 332 outlets across the country, including a shop in the Halstead High Street, and employs approximately 2,500 staff nationwide.
Reports at the weekend suggested it was considering closing some 66 branches, and were entering negotiations with landlords over 200 others.
A spokesman for the firm said: “Discussions are continuing with our landlords, but no decisions have been made.”
They would not comment further on claims of store closures or an impending CVA.
Formed in 1968, Clintons – previously known as Clinton Cards until a rebrand – is owned by the American Weiss family who took it over in 2012.
In September, it announced it was seeking a new buyer to take over the chain.
More by this authorNewsdesk Sudbury
This website and its associated newspaper are members of the Independent Press Standards Organisation (IPSO)