I know this is from last month,but I just saw this:
"Earlier its biggest supplier had said it planned to push the British retail chain into administration."
Basically,they bought up £35 million in debts/loans from Barclays and taxpayer owned RBS,and then asked for them to be settled more or less immediately. Since Clinton Cards could not do so,they had to enter administration. The US company then acquired the stores it wanted and got rid of the rest,meaning thousands of job losses.