Clintons has entered Administration with an immediate pre-pack deal completed to Esquire Retail, which is a new company set up and controlled by the Weiss family. The Weiss family have owned Clintons for seven years having taken over following the company previously entering Administration. The Company was first formed in 1968 by Don Lewin.
KPMG are acting as Administrators and have said that all 2,500 employees jobs have been saved and all 334 Clinton’s stores will remain open and continue to trade.
It is believed that Clintons were looking to seek a CVA in order to reduce rents and close a number of unprofitable stores but were unable to obtain landlord’s support.