Published Thursday, 07 June 2012
Clinton Cards has become the latest casualty of the high street spending slump (© PA)
Administrators Zolfo Cooper revealed on Thursday that Lakeshore Lending Limited, a subsidiary of American Greetings, has purchased its brands and assets.
The takeover includes Birthdays in Belfast as well as Clintons outlets in Craigavon, Londonderry, Newtownabbey, Belfast, Enniskillen and Omagh.
Twelve Clintons and 10 Birthdays in NI remain under threat.
Four local branches have already been shut down
The group, which was the UK's biggest specialist cards retailer, went into administration last month after failing to find a buyer for all or parts of the business.
It had 784 stores and employed more than 8,000 staff in total, but collapsed into administration after its biggest supplier American Greetings called in a $35 million debt.
Clinton has suffered dire trading in recent months as it comes up against stiff competition from supermarkets and online retailers such as Funky Pigeon and Moonpig.