Zolfo Cooper statement regarding the closure of 43 stores not included in the sale of Clinton Cards to Lakeshore Lending Limited
Friday, 8 June, 2012 - 17:15
Zolfo Cooper statement regarding the closure of 43 stores not included in the sale of Clinton Cards to Lakeshore Lending Limited
Peter Saville, Simon Freakley and Anne O’Keefe, Partners at Corporate Advisory and Restructuring specialists Zolfo Cooper were appointed Joint Administrators over Clinton Cards Plc and its subsidiaries, including Birthdays Retail Limited (together the Group), on 9 May 2012.
On 7 June 2012, it was announced that the brands and assets of Clinton Cards including 397 stores, had been purchased by Lakeshore Lending Limited, a subsidiary of American Greetings Corporation.
The 330 stores not included in the sale to Lakeshore Lending Limited remain under the control of Zolfo Cooper and the Joint Administrators can confirm that 43 of these stores will close today.
The Joint Administrators will now focus their efforts on the store portfolio identified as part of the closure programme announced on 16 May 2012. As a part of this exercise, the Joint Administrators continue to welcome expressions of interest for this part of the estate, as a whole or in part.
Stores set to close 8 June 2012
| Clinton Cards | Birthdays |
|---|---|
| Ayr, The Kyle Cent | Basingstoke, Mayfair House |
| Basildon, Town Sq | Bracknell |
| Blackpool, Upper Church St | Bromley, The Glades |
| Brighton, Western Rd | Camberley, Cambridge Wlk |
| Bristol, The Galleries | Craigavon, Craigavon Ctr |
| Bromley, Upper Mall, The Glades | Derby, 145 South Mall |
| Cannock, Peel Ctr | East Kilbride, West Mall |
| Chatham, High St | Liverpool, Lord St |
| Cheltenham, Regent Arcade | Norwich, Castle Mall |
| Chorley, Chapel St | Nuneaton, Market Place |
| Corby, Willow Place | Redditch, Kingfisher Ctr |
| Crawley, 61County Mall | Sheffield, 18 The Gallery |
| Croydon, 31 Whitgift Ctr (Lower) | Southend, 82 High St |
| East Kilbride, The Olympia | Thurrock, 277 Lakeside |
| Gainsborough | Uxbridge, Pavillions Ctr |
| Glasgow, Braehead | Weston Super Mare |
| Inverness, High St | |
| Ipswich, Cornhill | |
| Leeds, Commercial St | |
| Milton Keynes, Silbury Arcade | |
| Newbury, Kennett Ctr | |
| Northampton, Grosvenor Ctr | |
| Romford, Liberty II | |
| Shrewsbury, Darwin Ctr | |
| Shrewsbury, Pride Hill Ctr | |
| Watford, Upper Mall Harlequin | |
| Wrexham, Regent St | |
ENDS
For media enquiries, please contact:
Zolfo Cooper Press Office
Tel: +44 (0) 20 7332 5226
pressoffice@zolfocooper.eu
About Zolfo Cooper
This press release and ‘Zolfo Cooper’ refer to Zolfo Cooper LLP. Zolfo Cooper LLP is a leading international provider of corporate advisory and restructuring services. Headquartered in London, with offices throughout the UK and affiliations in North America, the Caribbean, Continental Europe, Asia and Australasia, we have extensive experience of assisting companies and their stakeholders across a wide range of situations from complex cross-border cases through to mid-market engagements.
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