in the news
Clinton Cards buys
back 196 Birthdays
stores for £3.5m
Scribbler set
As predicted by Greetings Today last month, Clinton said that the purchase should be
Clinton Cards has emerged as the buyer of 196 earnings-accretive. Over the 12 months to
for expansion
Birthdays stores from administrator Zolfo Cooper August 3, 2008 the 196 stores had sales of £74
for a deal worth £3.5 million. million and made a contribution of £2.7 million. Despite doom and gloom on the high street, card retailer
Clinton was the original owner of the They had a gross asset value of about £26 Scribbler is planning to use market conditions such as lower
Birthdays chain but put it into administration in million at that time. rents to its advantage by expanding across the UK.
May, following years of losses. The company Shares in Clinton cards rose sharply on The retailer is based primarily in London and the South
ran 332 outlets along with a head offi ce and the news as the City reacted to the benefi ts East with 16 stores but is keen to open outlets as far afi eld as
warehousing facility in Bury, which employed a of substantial rent savings and the prospect Scotland.
total of 2,100 people. of enhanced profi ts for the year to July 2010. Scribbler founder and owner John Proctor said: “We’re
The purchase of the 196 sites safeguards Shares in Clinton have risen six-fold since the expanding to take advantage of current market conditions,
1.450 jobs but the remaining 800 staff have been start of the year. which are enabling us to expand with a lower capital cost than
let go and 136 outlets closed along with the Separately, the company said that its lenders would have been the case a year ago.”
offi ces in Bury. The Birthdays brand will now be whose consent is required for the transaction The upper limit for Scribbler’s expansion is said to be 50
run from Clinton Card’s Loughton headquarters have the right to be issued with warrants to stores, with some of those openings including new sites in
In Essex. acquire two per cent of the group’s issued share London.
Of the £3.5m purchase price, £3.25m will be capital in aggregate. The key to how quick the retailer’s expansion plans can
covered by a reduction in the amount owed by Birthdays, which was founded in 1979 and be put into practice will depend on the availability of sites at
Birthdays to Clinton. was once owned by Sir Tom Hunter’s West the right price in key locations. Another three stores could
Clinton Cards chairman Don Lewin said: Coast Capital vehicle, was bought by Clinton be added to its portfolio this year, all of which would be
“We are very pleased to be able to report the for £46 million in 2004. At the time it said that it outside London, while around six a year could be opened in
purchase of a large proportion of the Birthdays expected the chain to be earnings-enhancing subsequent years.
stores, thereby ensuring employment for 1,450 within two years but instead has made annual
people.” losses of around £7m a year.
Gemma
Paper House and Medici
appoints new
form new card company
creative head
Paper House and Medici Cards have been integrated under the banner of The Great British Card
Company.
UK leader in licensed
Since Paper House bought the card business of the Medici Society last year, suppliers and customers
greeting cards,
have had to deal with two separate accounting systems and a doubling up of invoices, deliveries and
Gemma International
statements if they deal with both companies.
has announced the
That has all changed with the formation of TGBCC, which will feature three divisions: Paper House,
recruitment of Daniel
Medici and the Waterwells brokerage service.
Donnelly as Head of
“Whilst we intend to keep the product ranges and brand images of Paper House and Medici Cards
Product and Creative.
quite separate, we have now decided to save everyone some time and money by merging the two
Daniel Donnelly has a
businesses,” said chairman, Peter Reichwald.
wide range of commercial
product development and
design experience in the
greetings sector, formerly
Jones returns to Danilo
at International Greetings
and most recently
Daniel Donnelly
after illness
developing own brand
.co.uk
product ranges directly
for retail. He has a signifi cant amount of experience in the Far
Danilo Promotions’ licensing director Trevor Jones has returned to work following a sudden illness that East, having also lived and worked in Hong Kong.
sidelined him for fi ve months. David Wesson, Gemma’s Chief Operating Offi cer,
Jones has been a principal part of Danilo’s success due to the prolifi c rate at which he secures and commented: “I am very pleased to welcome Daniel in our
develops new licenses. Worries about his health arose before Spring Fair and resulted in overwhelming team. Daniel will bring his passion for product development to
eetingstoday
words of support from the greetings industry. assist us in delivering the best product range innovation and
“The response to my sudden illness was simply amazing and I want to thank everyone,” Jones said. “It product extensions in the market and the best creative and
.
gr
was a real source of strength to me and very humbling. I will speak to everyone over the next few weeks, commercial design in the UK across license, Gemma and Own
but I just wanted to let everyone know I’m feeling much better.” brand product.”
www
6 www.greetingstoday.co.uk
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64