UK retailer Clinton Cards goes into administration
May 10 , 2012
UK retailer Clinton Cards has gone into administration after its largest supplier initiated the process.
Prior to the announcement, the troubled company had requested a suspension on the trading of its shares.
Clinton said two of its banks had sold $56 million worth of loans to supplier American Greetings.
Clinton Cards was founded in 1968 and is the UK’s biggest card retailer, operating 628 shops and employing more than 8,000 staff.