American Greetings acquires 400 U.K.-based stores

Cleveland -- American Greetings said Thursday it has acquired 400 Clinton Card stores, a U.K.-based chain that was one of American Greeting’s biggest customers. The struggling retailer had about 750 stores in the United Kingdom before being placed under administration last month. About 350 stores were closed and the remaining 400 will stay under administration, said American Greetings, and the other assets will be liquidated to pay off creditors.