![Pinterest](https://pinterest.com/pin/create/button/?url=https://uknews.evprotec.com/major-card-chain-could-close-dozens-more-stores-to-avoid-collapse/&media=https://uknews.evprotec.com/wp-content/uploads/2023/08/crop-21565461.jpg&description=Breaking CLOSING TIME Published : 13:17, 4 Aug 2023 Updated : 13:24, 4 Aug 2023 A MAJOR card chain could close dozens more of its stores as it attempts to avoid collapse. Clintons has brought in advisers to put a plan in place to save it from insolvency, The Times reports . 1 Clintons could close dozens of stores as it tries to avoid collapse Credit: Alamy It comes after the retailer closed a string of stores earlier this year , including ones in Cumbria and Bolton. Clintons had been exploring a merger with Paperchase, but this failed after Paperchase itself collapsed into administration earlier this year. All of its stores closed while supermarket Tesco stepped up to buy the rights to the brand. Clintons was founded in 1968 but it has struggled in recent years due in part to high business rates and a change in people's shopping habits with people moving online. The retailer has also struggled to compete with rivals on the high street and online. Card Factory is its biggest high street rival, as well as online players Moonpig and Funky Pigeon. Speculation had been raised over the firm's future when it announced back in 2019 that it urgently needed to close 66 of its sites to avoid collapse. The firm resolved its woes by entering into what's known as a "pre-pack administration" back in December 2019. Clintons brand and its assets - its shops, staff and website - were sold to a new company called Esquire Retail Limited. The move involved hundreds of job losses and store closures. At its peak before administration, the retailer had 2,500 staff working across 335 shops.){kind=link}
A MAJOR card chain could close dozens more of its stores as it attempts to avoid collapse.
Clintons has brought in advisers to put a plan in place to save it from insolvency, The Times reports.
It comes after the retailer closed a string of stores earlier this year, including ones in Cumbria and Bolton.
The company could be bought through a pre-pack administration, it is understood.
This is an insolvency process for a business to sell its assets before appointing administrations.