Clintons stores could close under restructure
Date published: 14 November 2019
Greetings card retailer Clintons is believed to be considering store closures and rent cuts as part of a restructure.
According to the BBC, the retailer is in restructuring talks with landlords, which would involve a Company Voluntary Arrangement (CVA) insolvency process
CVAs allow companies to continue trading whilst paying creditors over a fixed period.
The Sunday Telegraph recently reported Clintons could close 66 of its 332 shops, with landlords cutting rent on the majority of remaining stores.
A spokesperson for Clintons said: “Talks with our landlords are still ongoing but no decisions have been taken.”
Clintons did not respond when asked how a restructure would affect the Rochdale store in the Rochdale Exchange Shopping Centre.
Formerly known as Clintons Cards, the company was founded in 1968 in Essex by Don Lewin.
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