Town centre store to close
PUBLISHED: 12:30 18 May 2012 | UPDATED: 13:38 18 May 2012
A TOWN centre store in Weston will shut its doors over the next few weeks.
Card retailer Birthdays in the Sovereign Shopping Centre will close after parent company Clinton Cards went into administration on May 9.
And there are still question marks over the future of Clinton Cards, which sits directly opposite Birthdays in the shopping centre.
Although administrators Zolfo Cooper were appointed to stabilise the stricken firm and find a new buyer, Weston’s branch of Birthday Cards will close alongside 350 stores across the country.
The move will see 2,800 full-time and part-time staff lose their job across the country.
Birthdays stores will begin to shut on Monday, and this process will continue into June.
A statement by the administrators said: “Since their appointment, the joint administrators and their teams have been working to assess and stabilise the company’s financial position with a view to preserving value and seeking to sell the business as a going concern.
“In the course of this work it has become clear that the business is burdened with an untenable retail estate and as such, the Joint Administrators have regrettably taken the decision to close approximately 350 stores from the total estate of 784 stores nationwide.”
Peter Saville, joint administrator and partner at Zolfo Cooper, said: “Given the sheer size of the Clinton Cards retail estate and the overall performance, we were left with no alternative to today’s difficult decision.
“I am hopeful that the action we have taken will allow us to preserve value in the core underlying business, thereby allowing us and potential buyers to focus on a profitable and viable retail estate going forward.”
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