Card shops saved after buy-out

DOZENS of workers at the county branches of stricken retailer Clinton Cards have had their jobs saved after the company was bought by an American firm.

Ohio-based American Greetings, which has been one of Clinton’s biggest suppliers, will take on the brands and assets of the high street chain.

Clinton Cards went into administration a month ago but now 400 stores out of more than 700 nationally are due to be saved.

They include branches in the Westgate Centre, Oxford; Woolgate Centre, Witney; Sheep Street, Bicester; Buttermarket, Thame; Castle Quay, Banbury, and Bell Street, Henley. Between them they employ about 60 people.

Joint administrator Peter Saville of specialist finance firm Zolfo Cooper said: “We would like to thank the staff for their dedication and patience throughout what has been an understandably difficult time for all concerned.”

American Greetings chief executive Zev Weiss added: “We believe that properly managed, and with the appropriate capital structure, Clinton Cards can be both an important and profitable retailer.”

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10:24pm Fri 8 Jun 12

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