American Greetings Buys Clinton Cards Stores, Brand

American Greetings Corp. disclosed in an annual report to the U.S. Securities and Exchange Commission that it bought stores and financial assets from Clinton Cards Plc, a U.K. greeting card business in administration, a process similar to Chapter 11 bankruptcy in the U.S.

Before entering administration, Clinton Cards had 750 stores and annual revenue of about $600 million and had long been one of American Greetings’ “largest customers,” the U.S. company said in the SEC filing.

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