JOBS at the Clinton Cards stores in Motherwell and Bellshill are hanging in the balance after the company went into administration.
The shops, on Brandon Parade and Main Street respectively, each employ seven members of staff.
Although administrators Zolfo Cooper are ‘confident’ of attracting a buyer, they admitted that a number of stores may be closed.
Peter Saville, joint administrator and partner at Zolfo Cooper, said: “Recently, Clintons has been faced with extremely challenging trading conditions, particularly in its Birthdays subsidiary, where the combined cost to the Group in terms of acquisition cost and accumulated losses is estimated to have been in excess of £130 million since 2004.
“Despite evaluating ways to restructure its business, Clintons was unfortunately unable to secure adequate support or funding for its restructuring plans.”
For the full story, see this week’s Times & Speaker.