Greeting cards retailer, Clintons, has revealed plans to shut one in five of its UK stores, and is looking to find cheaper rent on over 200 of its shops.
According to the Sunday Telegraph, Clintons is looking to close 66 of its 332 stores and also wishes for the rent of 206 stores to be linked to each of its stores performance. It is thought the restructuring will involve a Company Voluntary Agreement (CVA).
Clintons, which employs 2,500 people, is reportedly set to decide whether or not to go through with a planned CVA on 18 November.
A spokeswoman from Clintons said: “Talks with our landlords are still ongoing but no decisions have been taken.”