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Thursday, 7 June 2012

Clinton Cards sold to American Greetings

 A subsidiary of American Greetings, Lakeshore Lending Limited, has bought the brands and remaining assets of Clinton Cards it has emerged. 

This comes as no surprise since American Greetings bought the debt of the business and appointed their own administrators at Zolfo Cooper.  The administrators have announced that 350 out of the 784 stores would close.  The purchase has saved over 4,500 jobs and has given American Greetings a strong foothold in the UK card market.  However they will be up against stiff competition from Moonpig and Funky Pigeon,  the latter has already started to open some stores under the ownership of WH Smith who were also reportedly interested in Clinton Cards

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