Clinton Cards Puts Birthdays Subsdiary Into Administration
The BBCreports that Clinton Cards has put its Birthdays chain into administration. The subsidiary chain of the UK greeting card retailer has 223 stores and employs over 2,000 people.
Retailer Clinton Cards has put its subsidiary chain of 223 Birthdays stores into administration, putting more than 2,000 jobs at risk.
The company said the Birthdays outlets would continue to trade while options to secure their future were explored. The news saw Clinton's shares rise 30%.
A Retailer Digital article say there are more stores than the BBC article. They list over 300 Birthdays stores. The recession is being blamed for the subsidiary being put into administration.
"In the current environment, the group cannot sustain supporting losses of approximately 7 million pounds a year at Birthdays with limited opportunity to improve on that performance in the foreseeable future," Chairman Don Lewin said in a statement.
Clinton Card acquired Birthdays in 2004. They also run another 600+ Clinton Card stores.
The BBC 
