Bury-based greeting cards retailer, Distinctive Cards Limited, have gone into administration.
David Appleby and Stephen Conn of corporate recovery specialists Begbies Traynor, Manchester, have been appointed administrators on behalf of the director of the company.
Distinctive Cards Limited trading as Card Store has ceased trading with the closure of 18 stores and loss of 105 jobs. They have stores across the country, mainly centred in the North and Scotland.
The business has suffered from severe competition on the high street and was unable to compete with the emergence of new card retailers who are offering highly discounted cards.
David Appleby of Begbies Traynor comments: “It’s always a great shame when a business fails especially when supported by the director, but unfortunately he was unable to fund further losses. There are however a number of parties showing an interest and we are working hard to gain the best outcome.”
Queries regarding the company should be direct to David Appleby on 0161 839 0900.
Enquiries, please contact:
David Appleby Joanne Fletcher-Wall
Begbies Traynor Group plc Bell Pottinger North
0161 839 0900 01625 506444
Notes to editors:
Distinctive Cards Limited stores are in the following locations:
Head office, Bury, Lancashire
About Begbies Traynor Group plc
The Group specialises in business insolvency management and is becoming increasingly active in the area of personal insolvency. It also offers services in corporate rescue and investigation services and has entered the field of corporate finance.
In November 2005, the Group entered the rapidly-expanding volume personal insolvency market via the acquisition of W3 Debt Solutions, a firm specialising in providing advice and practical support to individuals in debt.
The Group has grown to its current network of 30 nationwide offices ranging from Scotland to the South West of England, with 350 operatives. The Company continues to pursue its strategy of organic development, coupled with the acquisition of specialist knowledge of both individuals and firms, to further increase its market share in its core services.
The Directors believe that the Group is the UK's largest independent insolvency, corporate rescue and recovery specialist with clients ranging from major institutions to individuals with business difficulties.
The Office Network
The Group operates with 60 licensed insolvency appointment takers, some 225 fee earning staff and 65 in support and administration. The Group operates from 30 locations of which five are regional offices, a further 12 are full offices and 13 are satellites.
The core business of the Group is the formal administration of insolvencies including receiverships, liquidations, administrations, company voluntary arrangements and business-related personal insolvencies. The Group has extended its activities into a range of consultancy services including corporate rescue, credit management, forensic and investigation services and corporate finance.