Retailer Clinton Cards is set to lose its fight for survival after its largest supplier said it will force it into administration later today.
Clinton, which has 24 stores in Hampshire including one in Southampton, Eastleigh and Winchester, has been fighting for its future after failing to find a buyer for the company, or parts of the group.
The retailer, which operates 628 Clintons and 139 Birthdays stores, has requested that its shares be suspended on the London Stock Exchange.
The move comes after its banks - Barclays and taxpayer-backed Royal Bank of Scotland - sold the company's £35 million of loans to its biggest supplier, American Greetings.
But whereas the banks waived certain loan conditions, American Greetings has said it will push the company into administration today.
Clinton Cards reported a loss of £3.6m in the six months to January 29, after making a profit of £11.7m for the same period a year ago.
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