Clinton's Cards throws in hand

Clinton's cards that has over 600 shops in the UK, has entered administration with it's shares suspended on the UK stockmarket, putting 5,000 jobs at risk and emphasising how dangerous the high street has become if you don't get your sums right.

The company has been losing money for years, saddled with high rental costs and early exit penalties but it is the recent sale of loans totalling £35 million from Barclays and the RBS, to Clinton's largest supplier, American Greetings, that tipped the company into administration.

Internet and discounted competition have eaten into their market share and it is no surprise to retail analysts that they have made this move.