Ely branch of Clinton Cards is saved from closure
THE Clinton Cards store in Ely has been saved after administrators agree to sell part of the UK’s largest card retailer.
Clinton Cards, which fell into administration last month, has been sold to Lakeshore Lending Limited, a subsidiary of US card retailer American Greetings.
The sale comprises the brands and assets of Clinton Cards, including 397 stores, and will preserve approximately 4,500 jobs across the UK.
The shop in High Street is among the 397 bought by the group.
Speaking about the sale last Thursday, Zolfo Cooper partner Peter Saville said: “We have always been of the view that despite an intensely competitive retail environment and what proved to be excessively ambitious expansion plans in recent years, there was a strong underlying business contained within Clinton Cards.
You may also want to watch:
“The significant number of credible expressions of interest we received for the business we have sold today, from both trade and financial buyers alike, is testament to this fact.
“We would like to thank the staff for their dedication and patience throughout what has been an understandably difficult time for all concerned and we wish both them and the new owners of the business every success for the future.”
- 1 Dr Nik 'over the moon' after pulling off shock Labour victory
- 2 Lib Dems score notable successes in East Cambridgeshire
- 3 Dr Nik Johnson elected Mayor of Cambridgeshire and Peterborough.
- 4 Littleport tops poll for the lowest turnout in council elections
- 5 Drink driver TWICE rammed off-duty officers' car
- 6 Voters 'given a clear indication that they wish for us to try and run the council'
- 7 Death crash driver who fled is jailed
- 8 Stagecoach suspends Milton park and ride
- 9 Farm shop receives 'overwhelming' response ahead of opening
- 10 30 East Cambs candidates compete for 8 Cambridgshire County council seats
Zolfo Cooper added that it would still welcome interest on the sale of stores not included in Lakeshore’s portfolio.