Buyout hope for Clinton Cards staff in Cumbria
Last updated at 10:59, Saturday, 12 May 2012
Dozens of threatened workers at Cumbrian branches of Clinton Cards were given fresh hope after rumours of a possible buyout emerged.
WH Smith and Card Factory were both yesterday reported to be interested in snapping up the stricken chain.
Clinton Cards, which has two branches in Workington and shops in Carlisle, Penrith and Whitehaven, hit financial trouble on Wednesday after its biggest supplier forced it into administration.
But it emerged yesterday that WH Smith is interested in buying up to 350 stores, out of the company’s total estate of 628 Clintons and 139 Birthdays shops.
Card Factory, Clinton’s biggest competitor with 596 stores, is also thought to have approached administrator Zolfo Cooper.
WH Smithdeclined to comment.
It is also thought that Clintons’ founders, the Lewin family, are interested in buying the chain.
The firm’s collapse follows pre-tax losses of £3.7m in the 26 weeks to January 29.
First published at 08:58, Saturday, 12 May 2012
Published by http://www.newsandstar.co.uk
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