Clintons close to collapse in another blow for High Street

The future of six Clinton Cards stores in Shropshire was this afternoon thrown into doubt after the retailer's largest supplier said it would force it into administration.

Clinton Cards PLC, the UK's biggest card retailer, 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.

The retailer currently employs more than 8,000 staff at its 628 Clintons and 139 Birthdays stores. It has stores in Oswestry, Bridgnorth and Telford and three shops in Shrewsbury.

It is understood administrators would run the stores as normal while seeking a buyer for the business, but a large number of stores could be closed. But a spokesman for the retailer said today it was 'too early' to tell which stores would close.

The fall of Clinton Cards into administration would be another blow to the High Street after recent high-profile casualties, including Game Group, Peacocks and Blacks Leisure.

Clinton Cards has suffered dire trading in recent months as it comes up against stiff competition from supermarkets and online retailers.