Buyers vie to rescue Clinton Cards

Clinton Cards is set to be bought out of administration during the next few days as potential buyers, which are led by supplier American Greetings, vie for the collapsed chain.

Administrator Zolfo Cooper has set itself a target of selling the business by 8 June, according to Retail Week.

American Greetings is the biggest creditor and has already taken on the company's £35m bank debt.

This means that any rival bidder would have to pay more than £35m for it to get its money back.