Business failure
Ashley Armstrong , retail editor 11 FEBRUARY 2017 • 7:45PM Hundreds of jobs at risk as Clinton Cards considers mass store closures S tationery chain Clinton Cards is considering shutting swathes of high street stores, raising fears for hundreds of jobs. It is understood that the chain’s US owner could bring down the shutter on around 120 shops, equivalent to around a quarter of its UK estate. American Greetings has admitted that 120 out of 393 shops are yet to be modernised and as a result, these shops were “subject to an ongoing strategic review”. It has also halted its store refurbishment programme, pumping in just £1m last year compared to £14m in 2015. Property agents at Knight Frank have been mandated to review the firm’s stores and denied that there would be a wave of store closures. It follows moves by American fashion giant Gap to put its UK stores under review after closing all its British Banana Republic shop...