Clintons set to close around a fifth of its shops

Clintons, the greeting cards retailer, is acceptable to unopen astir 20% of its shops successful an effort to support the institution afloat.

Reports suggest that if the steadfast is not capable to onslaught a woody it faces insolvency.

It would beryllium the 3rd clip successful 11 years that Clintons has faced acute fiscal difficulties - it had to beryllium rescued successful 2012 and again successful 2019.

Clintons has been contacted by the BBC for comment.

The retailer has appointed restructuring experts FRP Advisory, which has declined to comment.

According to The Times, Clintons has 179 shops and wants to adjacent 38 of its outlets. It employs astir 1,400 people.

It is the 2nd High Street institution facing fiscal difficulties. Last week, Wilko warned that it is connected the brink of collapse, putting 12,000 jobs astatine risk.

The homewares company, which has been trading for 93 years, said that it had filed a "notice of intention" (NOI) to name administrators.

Wilko's main enforcement Mark Jackson said that Wilko has been moving to unafraid backing for a turnaround program and had received "an indicative connection that would conscionable each fiscal criteria".

"However, this connection could not beryllium executed successful the timelines required, which is wherefore we took the hard determination this week to record an NOI," Mr Jackson added.

At its height, Clintons had astir 800 shops and employed 8,000 staff.

However, successful 2012 it was forced to record for medication and was rescued by American Greetings, a supplier owned by the US-based Weiss family.

At that point, 350 shops were unopen and astir 3,000 employees mislaid their jobs.

The household rescued Clintons from medication again successful 2019. More stores were shuttered and occupation cuts continued.

Clintons was founded successful 1968 by Don Lewin, the lad of an East End chimneysweep.

The concern made Mr Lewin a multi-millionaire, earned him an OBE and inspired his autobiography "Think of a Card".

The aforesaid twelvemonth that Mr Lewis founded Clintons successful Epping, Essex, 2 students Judith Cash and Eddie Pond acceptable up Paperchase, a rival greeting cards and stationery specialist.

However, Paperchase filed for medication successful 2021 aft Covid lockdowns forced galore non-essential retailers to adjacent their doors.

Tesco yet bought Paperchase's marque and intelligence property. The chain's 106 shops successful the UK and Ireland were not acquired and hundreds of radical mislaid their jobs.