Clintons set to close dozens of shops to stay afloat as High Street crisis deepens

Troubled retailer Clintons “will have no option but to commence formal insolvency proceedings” if it does not secure an agreement with 20 per cent of its shops said to be at risk

Greeting cards retailer Clintons is set to close nearly a quarter of its shops as the company struggles to stay afloat, it has been reported.bbc cl

Dozens are set to shut in the months ahead, the third time in little over a decade that the company has faced financial difficulties. According to The Times, Clintons could close 40 of its 179 outlets, putting many of its 1,400 employees at risk.

The chain, a key player on the UK’s high street since 1968, could face insolvency if not able to strike a deal. According to documents seen by the publication, Clintons’ store closure plan has been designed to “avoid insolvency and be rescued as a going concern” and that the retailer “will have no option but to commence formal insolvency proceedings” if it cannot secure an agreement.

The business is one of the biggest privately owned retailers in Britain The Mirror has approached the company for comment, with no news yet on which stores are at risk. as the business struggles to rebuild its finances.