Job losses announced as greeting card shop at The Exchange Ilford goes into administration
PUBLISHED: 12:39 16 May 2017 | UPDATED: 14:08 16 May 2017
Staff at a high street greeting cards chain are to lose their jobs after it was announced the firm went into administration.
I Candy Cards and Gifts Ltd, which trades as iCandy, will close its stores in The Liberty Shopping Centre, Romford, and the Exchange Shopping Centre, Ilford, after administrators – FRP Advisory – were appointed on Tuesday, May 9.
Around 22 staff will be affected and two other stores, in Bishop’s Stortford and St Albans, are expected to close.
The retail company was opened by Clinton Lewis, the former Clinton Cards boss, in 2012.
He is believed to have invested his own cash to drive growth but came under pressure from a slowdown in consumer spending and a rise in business rates.
Around 79 workers and 10 stores may be retained as a buyer is sought for the business.