16/05/2012 18:51 BST

Clinton Cards Administration: Nearly 3,000 Jobs Axed

Nearly 3,000 jobs are to be axed after the administrators of Clinton Cards announced plans to close 350 stores today.

All of the group's Birthdays stores and roughly 200 Clintons-branded stores will close after administrators said the business was "burdened with an untenable retail estate".

The move will see 2,800 full and part-time staff lose their jobs in a wave of store closures starting next week and continuing into June.

BLOG: Dear Clinton Cards: So Sorry for Your Loss

The ailing high street retailer, which had 784 stores and employed more than 8,000 staff in total, collapsed into administration last week after its biggest supplier American Greetings called in a £35 million debt.

Peter Saville, joint-administrator Zolfo Cooper, said: "Given the sheer size of the Clinton Cards retail estate and the overall performance, we were left with no alternative to today's difficult decision.

"I am hopeful that the action we have taken will allow us to preserve value in the core underlying business, thereby allowing us and potential buyers to focus on a profitable and viable retail estate going forward."