High street card retailer with 179 branches to close site as locals moan it’s ‘another nail in the coffin’
A HIGH street card retailer with 179 branches is set to shut down a store in another blow to locals.
Residents have moaned “another nail in the coffin” as the card chain revealed its plans for closure.
Clintons, known for selling everything from cards, gifts, and party essentials, will depart from Banbury town centre later this year.
The store has confirmed it will pull down the shutters on its location on the Christmas Eve.
The branch has launched a closing down sale with discounts of up to 20 per cent off everything.
Locals have been left dismayed by the sudden announcement with many flocking to social media to express their disappointment.
The residents have cried out “ghost town” as they complained about the lack of high street retailers in the city.
One person said: “I wonder who can guess whether it will become another nail bar or another coffee shop.
“Pretty much all we have in the town centre apart from charity shops.”
Another person added: “Just another nail in the coffin for Banbury’s shopping centre.”
A third commenter wrote: “Very sad. I love sending and receiving cards, and displaying them on the mantlepiece.
“I suppose things have to change.”
The cards shop in Banbury has been loved by locals with dazzling four-star rating on Google.
Customers praised the branch for the “excellent range of cards” and “lovely staff”.
One review read: “Great for any sort of card, not over expensive.”
Another shopper wrote: “Clinton’s is the best card shop in Banbury. I buy all my Christmas cards and birthday cards from there.
Why are retailers closing stores?
RETAILERS have been feeling the squeeze since the pandemic, while shoppers are cutting back on spending due to the soaring cost of living crisis.
High energy costs and a move to shopping online after the pandemic are also taking a toll, and many high street shops have struggled to keep going.
The high street has seen a whole raft of closures over the past year, and more are coming.
The number of jobs lost in British retail dropped last year, but 120,000 people still lost their employment, figures have suggested.
Figures from the Centre for Retail Research revealed that 10,494 shops closed for the last time during 2023, and 119,405 jobs were lost in the sector.
It was fewer shops than had been lost for several years, and a reduction from 151,641 jobs lost in 2022.
The centre’s director, Professor Joshua Bamfield, said the improvement is “less bad” than good.
Although there were some big-name losses from the high street, including Wilko, many large companies had already gone bust before 2022, the centre said, such as Topshop owner Arcadia, Jessops and Debenhams.
“The cost-of-living crisis, inflation and increases in interest rates have led many consumers to tighten their belts, reducing retail spend,” Prof Bamfield said.
“Retailers themselves have suffered increasing energy and occupancy costs, staff shortages and falling demand that have made rebuilding profits after extensive store closures during the pandemic exceptionally difficult.”
Alongside Wilko, which employed around 12,000 people when it collapsed, 2023’s biggest failures included Paperchase, Cath Kidston, Planet Organic and Tile Giant.
The Centre for Retail Research said most stores were closed because companies were trying to reorganise and cut costs rather than the business failing.
However, experts have warned there will likely be more failures this year as consumers keep their belts tight and borrowing costs soar for businesses.
The Body Shop and Ted Baker are the biggest names to have already collapsed into administration this year.
“It’s worth paying a bit more for good quality and good value for money.”
Clintons Cards announced last year that it is considering plans to shut 38 of its stores in a bid to avoid insolvency.
Half a dozen stores have already closed including in Cambridgeshire, Cumbria and Northamptonshire.
The retailer pulled down the shutters to its branch in Castle Street, Hinckley, Leicestershire on February 17.
Its branch in Kettering’s Newlands Shopping Centre closed on May 8.
Clintons will also close a branch in Bexhill town centre for good in August.
WHY IS CLINTONS CLOSING STORES?
Clintons is among retailers to have been affected by depressed high street footfall and competition from online rivals.
In August 2023, restructuring experts FRP Advisory and law firm Jones Day presented plans to save the business in an insolvency court.
They came up with a deal to save thousands of jobs and over one hundred UK stores.
But it also involved waving goodbye to a selection of shops that were not earning enough money to keep.
This led to the closure of stores in Cumbria, Bolton and Leeds last year.
Originally, Clintons planned to merge with another struggling stationary brand Paperchase.
However, the firm sadly went into administration at the start of last year.
At its peak, Clinton’s had 2,500 staff working across 335 shops.