Embattled retailer Clinton Cards, which has dozens of stores in the West Midlands, is set to lose its fight for survival after its largest supplier said it will force it into administration later today.
The retailer, which has more than 40 stores in the West Midlands, has requested that its shares be suspended on the London Stock Exchange.
The move comes after its banks – Barclays and taxpayer-backed Royal Bank of Scotland – sold the company’s £35 million of loans to its biggest supplier, American Greetings.
But whereas the banks had waived loan repayments, American Greetings has said it will push the company into administration today.
The company operates 628 Clintons and 139 Birthdays stores. It has stores in the Bullring, Pallasades, Harborne, Erdington, Cotteridge, West Bromwich, Halesowen, Solihull and Sutton Coldfield are among the 41 that Clinton Cards has in the West Midlands.