Clintons Puts Its Cards On The Table: Part 26A Restructuring Plan Sanctioned

On 24 August 2023, the English courts sanctioned a Part 26A Restructuring Plan for Esquire Retail Limited, trading as Clintons, with distinctive treatment of business rates.

Esquire Retail Limited, trading as the greeting card retailer Clintons ("Clintons"), has successfully completed a financial restructuring implemented by way of a restructuring plan under Part 26A of the Companies Act 2006 (the "Restructuring Plan"). Despite the closure of some 156 stores since 2019, the ongoing economic challenges facing high-street retailers have meant that Clintons was due to face an imminent liquidity crisis. The sanction of the Restructuring Plan achieves the rescue of Clintons (a stalwart of the high-street originally founded in 1968) as a going concern.