NEWS
Profits
Darling acts on business
halve at
rates
Chancellor Alistair Darling has modified plans to increase business rates by
Clinton
5 per cent in April. Instead rates will only increase by 2 per cent, with the
remaining 3 per cent being spread over the next two years.
Cards
Darling said: “I believe this will provide real and genuine help for
businesses in this country.”
Clinton Cards has announced a dramatic fall in profits but
He added: “The Government recognises that businesses need help now to ease their cash flow at a
has successfully renegotiated its banking terms in a deal,
time when money is very tight. This measure will help businesses to smooth their rates payments over
which will run until January 2012.
the next three years.”
Clintons’ adjusted operating profit slumped from
Retailers have been putting pressure on the Government to curb business rate rises, which would
£26.1m to £15.2m over the same 26 week period to
have cost them around £300m if the 5 per cent rise had been implemented as planned.
February 1 as last year.
The main Clinton brand fell from £25m to £17.9m,
while its Birthdays operation made a loss of £2.7m,
compared with the £1.1m profit it made last year.
Jobsworth cards
Clintons said the reduction was “the result of trading
from 70 fewer stores combined with the prevailing
make it Stateside
conditions on the high street and resultant lower footfall”.
The chain had been in drawn-out talks with Barclays
Jobsworthcards.co.uk, famous for its humorous
and Royal Bank of Scotland about its £72m debts – a
contemporary photographic designs, has just been awarded
£60m working capital facility and a £12m loan that was
a contract to supply the US distributor ‘Notes & Queries’
due to be repaid in December.
following a meeting at Spring Fair.
It has agreed to repay the last scheduled amount of
Jobsworth partner, Marc Holland, commented: “We are
£12m over an extended period to December 2011, as
delighted with this new partnership. After a huge success in
opposed to the original repayment date of November
the UK (customers include WH Smiths, John Lewis, Marks
2009.
& Spencers and Waitrose) and success in Australia and New
Clinton Cards said margins were maintained and cost
Zealand, we have always felt that our humour or should I say
saving measures, including more efficient staffing and
humor would work in the States. This contract cements our
lower IT costs, are expected to save the company £2m in
belief. To ensure continued success both here and abroad,
the year to July 2009.
we are constantly working on new designs.”
Chairman Don Lewin (above) said: “The certainty
(see Spotlight for details of Jobsworth’s new ‘Nun too
afforded to us by the successful renewal of our banking
Serious’ range)
facilities underlines the support we enjoy from our lending
banks, despite the demanding conditions on the high
street.
“However, as a result of the general economic climate,
Paper Rose snaps up Clare Davis
consumer confidence remains gloomy and trading
conditions continue to be challenging.”
The news will be particularly welcome for the
Paper Rose has announced that Clare Davis Designs will join the Paper Rose family from April 1st
company’s investors and shareholders who had been
worried about the debt burden and banking negotiations,
2009. This follows the successful acquisition of Avocado Designs last summer. The Clare Davis
On the back of the announcement, shares in Clinton
cards jumped by 25% to 12p at the time of going to press.
range of Greeting Cards and Glassware will dovetail brilliantly into the Paper Rose offer.
Amid the flurry of
excitement caused
Paperworld award winners
by Clintons’
The Paperworld show in Frankfurt has announced the winners of its sixth awards for the best student
announcement
designs.
was the news that
The winner was Ina Kindermann with her ‘packing case’ design, in the form of a miniature box,
it had secured
which folds together just like the larger original, making the winning design an emotional souvenir too.
a new lease in
“My greetings card is playful, experimental and three-dimensional in character - a greeting card and
Cardiff’s St David’s
collectors’ item rolled into one,” said Kindermann. Anna Gusalla, designer from Berlin, came second.
2 shopping centre.
She created a greetings card in the form of a dial, which can be set to mark each event. Third place
The 967,500 sq ft St David’s 2, joins the existing
went to Anne Eggert from Mannheim with her design featured a self-inscribing speech bubble.
427,000 sq ft St David’s shopping centre and will be
Michael Reichhold, Paperworld Director, said: “In recent years, greetings cards have become real
anchored by a 260,000 sq ft John Lewis, the retailer’s
trend products, reflecting the spirit of the time in a way no other paper product can. At Paperworld, we
largest shop outside of London and its first in Wales.
are particularly pleased to offer a platform for new, contemporary products and their creators.”
Clinton Cards has two existing outlets in Cardiff.
6 Greetings Today
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