May 21 2013 Latest news:
by Michael Adkins, Acting Editor
Friday, June 15, 2012
The Birthdays store in Barking is set to close within a week, administrators confirmed today (Friday).
Zolfo Cooper said a further 122 Clinton Cards and Birthdays stores not included in the sale of Clinton Cards to Lakeshore Lending Limited earlier this month are to close by Thursday June 21.
The 8,000-staff chain went into administration in May with accumulated costs and debts of more than £130million.
Eight staff are based at the store in Vicarage Field Shopping Centre, Ripple Road, Barking.
On 7 June 2012, it was announced that the brands and assets of Clinton Cards, including 397 stores, had been purchased by Lakeshore Lending Limited (Lakeshore), a subsidiary of American Greetings Corporation.
However, 330 stores were not included in the sale and remained under the control of the administrators. 43 of these stores were closed on June 8 and now a further 122 stores will cease trading by June 21.
At the time of going in to administration the group had 750 stores and 2011 revenues of over £360 million across its two retail brands.
A buyer is still being sought for the remaining stores.
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