Future of Clintons Mill Street store on the cards

Greeting cards retailer Clintons has revealed plans to shut one in five of its stores across the country to secure its future – which could lead to the closure of the firms Mill Street store in Macclesfield.

The chain, which has stores in Macclesfield, Crewe and Chester in Cheshire, is said to be in talks with landlords regarding negotiating a reduction in rents – while around 66 of its 332 shops have already been earmarked for closure.

While no decisions are reported to have been made yet, it’s another sign that the flailing High Street appears to be continuing to decline.

Key stakeholders in the firm, which employs 2,500 people, are said to be due to vote on restructuring proposals next month, according to online reports.

The proposals are said to lay the groundwork for a company voluntary arrangement (CVA) in a bid to prevent insolvency.

It’s another blow to the high street, which comes less than a week after Mothercare collapsed into administration – putting 79 stores and 2,500 jobs at risk, and Mamas and Papas also announced they had gone into administration.