Birthdays card retailer put on the market

Thu, 08 Mar 2012 | DIVISION SALE

The struggling greetings card retailer, Birthdays, has been put on the market by its owner Clinton Cards in an effort to return to profit.

Ernst & Young has been brought in to manage the sale process of the 141-store Birthdays chain, as part of Clinton’s new chief executive’s aim to improve the group’s performance, The Independent reported. The group had made losses of £10.66 million for the year ending 31 July 2011.

Clinton’s has been working to shrink the Birthdays chain over the past few years. In 2009 it bought back 196 Birthday’s shops out of administration, and also put the chain through a liquidation process in the Republic of Ireland in 2011.

Clinton’s new chief executive is Darcy Willson-Rymer, the former UK managing director of coffee giant Starbucks. He kicked off with a strategic review shortly after starting at his new post.

The review of the business is due to be finished in late April, a spokesman for Clinton’s told The Independent. “This is critical for the successful turnaround of the business and by necessity looks at every part of the group, including both Clintons and Birthdays,” he added.

Birthdays’ accounts showed a loss of £8.6m for 2010-2011. Recent figures revealed that like-for-like sales fell by 2.7 per cent during the five weeks to 1 January 2012. In comparison, Clinton's sales increased by 0.8 per cent for the same period.


Share this article



Latest Businesses for Sale

Pizza & Kebab Shop
East London, South East, UK

Fully equipped pizza and kebabs takeaway and delivery. Please note the purchase of this business is subject to entering into a franchise agreement, full details available upon request. Offers invited.

Asking Price: £175,000
Turnover: £528,000

LEASEHOLD


Italian Restaurant
Buckinghamshire, UK Wide

Spacious licensed restaurant. Outstanding opportunity to acquire a quality Italian Restaurant which has been in the same hands for the past 32 years. Offers invited.

Asking Price: £150,000
Turnover: £576,000

LEASEHOLD


Italian Restaurant
West Sussex, UK Wide

Most Attractive Licensed Italian Restaurant Plus Café & Coffee Shop in the same hands for the past 30 years. Offers invited.

Asking Price: £145,000
Turnover: £576,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
20
 
Mar
 

Warrington construction company enters administration | ADMINISTRATION

A prominent construction business headquartered in Orford Gr...

 
19
 
Mar
 

Prominent stationery supplier enters administration | ADMINISTRATION

Another British high street retailer has fallen victim to th...

 
18
 
Mar
 

Buyer sought for Leeds pub group | ADMINISTRATION

Administrators for pub group headquartered in Leeds are on t...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources