Clinton Cards is set to lose its fight for survival after its largest supplier said it will force it into administration later today. The retailer, which operates 628 Clintons and 139 Birthdays stores, has requested that its shares be suspended on the London Stock Exchange.
The move comes after its banks - Barclays and taxpayer-backed Royal Bank of Scotland - sold the company's £35 million of loans to its biggest supplier, American Greetings. The banks waived certain loan conditions, but American Greetings says it will push the company into administration today.
8000 jobs are at risk across the UK. The largest branch of Clinton Cards is at the White Rose Centre in Leeds.