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By Richard Wright
Thursday, May 10, 2012
MORE than 20 staff at two branches of Clinton Cards in Newport and Ryde were this week anxiously awaiting news of their futures.Further gloom was cast over High streets with the news on Wednesday Clinton Cards had gone into administration.The company had issued a warning in March about tough trading conditions caused by the intense competition from the internet and supermarkets and shoppers’ disposable income being squeezed.After its £35 million debt to suppliers was sold-on by lenders, Clinton Cards said it had no alternative but to go into administration. The administrator will attempt to find a buyer for the business.The company employs 8,000 people across the UK and has town centre stores in Newport and Ryde.
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