Administrator agrees Birthdays deal
The administrator of greetings card chain Birthdays has accepted two offers, to buy 199 and 11 stores respectively, from unnamed companies. The deal is understood to safeguard around 1350 jobs, but redundancies are still expected at other stores.The Clinton Cards-owned chain went into administration during May.
Peter Saville, partner at administrator Zolfo Cooper, says “We are pleased to announce that two offers have been accepted and are hopeful that contracts will be finalised in a matter of days. No purchaser has been forthcoming for the remaining 132 stores or the Head Office at Bury and we will be implementing a closure programme with immediate effect, with all stores scheduled to cease trading by close of business on Wednesday 24 June 2009. Regrettably around 800 jobs will be made redundant across the group. All employees have been made aware of the situation and we are grateful for the understanding and support of staff, customers and suppliers throughout the Administration process. We will also be writing to all landlords shortly to inform them fully of the situation.”
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