Whitehaven card shop to learn fate soon
Last updated at 11:40, Thursday, 17 May 2012
THE future of Whitehaven’s Clinton Cards store will be “confirmed shortly’’.
Administrators, Zolfo Cooper, and their team, say the store closure programme will begin next week and continue into June.
They have “regrettably’’ taken the decision to close approximately 350 stores from the total estate of 784 stores nationwide after it “become clear that the business is burdened with an untenable retail estate’’.
Peter Saville, joint administrator and partner at Zolfo Cooper said: “Given the sheer size of the Clinton Cards retail estate and the overall performance, we were left with no alternative to today’s difficult decision.
“I am hopeful that the action we have taken will allow us to preserve value in the core underlying business, thereby allowing us and potential buyers to focus on a profitable and viable retail estate going forward.”
First published at 10:19, Thursday, 17 May 2012
Published by http://www.whitehavennews.co.uk
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