Clintons Cards, which has been the British High Street favorite since 1968 for cards and gifts, and its associated company, Birthdays, are to be put into administration, sadly.
This move comes after the American financiers who bought an equity stake in this Stock Exchange quoted company from RBS and Barclays called in their loans, to the tune of £37 million. And Clinton Cards and Birthdays just don't have that sort of cash flow, despite the combined 800 branches across England.
As the two companies go into Administration, there is the bleak prospect of 8,000 staff losing jobs. The British High Street just ain't what it used to be, not with the zooming of the Internet, when online buying or reduced spending due to job losses and budget cuts have decimated the bricks-and-mortar stores into vacant semi ghost-towns.
I hope something can be salvaged, so that people keep their jobs and the two companies who have a welcoming presence on the High Streets, can be saved, perhaps by revamping and changing the product mix. It can be done, I believe.
Just like the Barnes and Noble bookstores in America have seen fresh light once again with the introduction of Microsoft products in this new Digital Economy, I believe there must be a product mix that would be suitable for Clinton Cards and Birthdays. I can visualize something, so if the American owners wish to sound me out on this, I would welcome contact from them. Just like many years ago Asa Candler brought the Coco Cola formula in a kettle to the drug store, I think I may have something in the way of an inspired idea. So, please, gentlemen, contact me.
Durudarshan - Investment Analysis and Management.