Hundreds more jobs in Sussex are on the line after the failure of another High Street giant.
Clinton Cards has collapsed into administration after failing to find a buyer for all or parts of the business.
The retailer operates 15 stores in Sussex, including London Road and Western Road, Brighton, and George Street, Hove, and employs about 180 staff across the county.
Administrators at Zolfo Cooper said the group had made losses of £130 million since 2004 and it was “likely that a number of stores would need to be closed to make the business financially viable”.
Zolfo will continue to trade the business as a going concern and said it remained confident it will be attractive to potential buyers.
Clintons is the UK’s biggest card retailer and employs more than 8,000 staff nationwide.
The administrators will continue to run the stores as normal while seeking a buyer for the business, but a large number of stores could be closed.
Clintons has seen trade plummet as it faced stiff competition from supermarkets and online retailers such as Funky Pigeon and Moonpig.
Loss
A spokesman for the company said that it recorded a pre-tax loss of £3.7 million in the 26 weeks to January 29, compared with a profit of £11.7 million in the previous year, and warned that the second half of the year would be below expectations.
Yesterday (May 9) it revealed poorer trading for the 14 weeks since January 29, with same-store sales down 3.1'5%.
Its fall into administration would be another blow to the High Street after recent high-profile casualties, including video games retailer Game Group, fashion chain Peacocks and outdoor specialist Blacks Leisure.
The chain was founded in 1968 when Don Lewin opened the first store in Epping in Essex.
In 1988 it had 77 stores when it floated on the stock market.
Its store numbers were swelled by numerous acquisitions, including Hallmark Cards and the Birthdays Group, which had 170 stores, in 2004.
Peter Saville, joint-administrator at Zolfo, said the company suffered “extremely challenging” conditions, particularly at Birthdays, but added that there was a strong underlying business.
He said: “The challenging business environment, and in particular the increased competition for greetings cards and related products, meant that the group required radical restructuring, and administration was the last remaining option available.”
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