Clintons Cards is gearing up to close a fifth of its stores as the retailer tries to avoid going bust.
The card shop has already shut 156 stores after being sold back to its US owner through a fast-track insolvency process in December 2019.
And the latest move would mean a further 38 of the remaining 179 shops would close their doors.
It is understood that the High Street staple has appointed restructuring experts from FRP Advisory in a bid to secure its future.
The business has struggled to stay afloat even as it slashed costs and considered a tie-up with Paperchase in December 2022.
Shutting: The latest move would mean a further 38 of the remaining 179 shops would close their doors
Paperchase was eventually bought by Tesco in January after it entered administration itself.
The latest plan for Clintons – founded in 1968 by Don Lewin in Epping, Essex – has been hatched to ‘avoid insolvency and be rescued as a going concern’, according to documents seen by The Times.
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