Clintons has been sold as part of a pre-pack administration to Esquire Retail, a vehicle set up by the Weiss family. The restructuring will keep all 334 stores trading throughout the festive period, preserving 2,500 jobs. Will Wright and Steve Absolom of KPMG were appointed as administrators earlier today. It follows months of discussions with stakeholders on a potential company voluntary arrangement. However, it was unable to gain enough support from landlords.
The company, which was founded in 1968, has faced mounting cash flow pressures in the face of challenging high street trading conditions. Eddie Shepherd, chief executive of
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