American firm moves in to secure future of greetings card shop
THE future of a card shop in Gainsborough has been secured – after the chain was sold to an American company.
Clinton Cards in Silver Street was one of the branches threatened when the country's largest specialist card retailer went into administration early last month.
But the Gainsborough store was not among 19 announced as closing a fortnight ago, along with Birthdays shops also owned by the business.
Now the remaining 397 Clinton Cards stores have been sold to Lakeshore Lending Limited, a subsidiary of American Greetings, saving 4,500 jobs.
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The move was revealed on Thursday by administrators Zolfo Cooper.
It came too late to save 350 out of a total of 784 stores – expected to lead to the loss of 3,000 full or part-time jobs.
Card-maker American Greetings, based in Ohio, has been one of Clinton Card's largest suppliers.