HIGH street chain Clinton Cards’ remaining stores were bought by a US greetings card firm yesterday, saving 397 stores and 4,500 jobs.
Ohio-based American Greetings, which was one of Clinton’s biggest suppliers before it collapsed into administration, will buy the retailer’s brands and assets.
Zolfo Cooper, the administrator, had already announced the closure of about 350 stores, costing the jobs of nearly 3,000 full and part-time staff.
The US company placed itself in pole position to buy the chain after it snapped up Clinton’s £35m bank debt, making it a preferential creditor and giving it a strong position in sale talks.
The US company’s UK Greetings operation, which is based in Dewsbury, West Yorkshire, has the brands Camden Graphics, Hanson White, Forget Me Not and Xpressions and supplies outlets including major supermarkets.
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