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Gloucestershire Business News

Mixed fortunes for card retailers

While one card retailer has upgraded its profit outlook, another looks set to close stores.

Clintons plans to shut down around a fifth of its shops in an effort to keep the company afloat, as reported by the BBC.

The firm has no remaining shops in the county - it closed its store in Gloucester earlier this year  and closed its Cheltenham store several years ago.

If the business isn't able to strike a deal, it's thought it will face insolvency. Clintons had to be rescued in 2012 and again in 2019.

The retailer has 179 shops, down from a high of nearly 800. It wants to close 38 in this latest round of closures. It employs around 1,400 people.

Meanwhile, value card retailer, Card Factory, expects its full-year results to be "materially ahead" of its previous expectations.

Card Factory, which has stores in Gloucester, Cheltenham, Stroud, Tewkesbury and Cirencester, said sales for the six months to July 31 were ahead of expectations, despite an uncertain trading environment.

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