Clinton Cards shops at risk
TWO card shops in Nailsea and Clevedon could be at risk of closing after a national company went into administration.
Clinton Cards PLC has been placed into administration, with trading of its shares suspended, after banks sold the company’s �35million of debt to another company, American Greetings, which then asked it to pay.
A statement issued by for Clinton Cards said: “The board has concluded that because it is unable to repay the loan it has no option but to concur with American Greetings’ proposal to place the company and its subsidiaries into administration.”
It is not yet known what effect the announcement may have on the stores in The Triangle, Clevedon, or Colliers Walk, Nailsea, or the company’s 8,000 staff nationwide.