Jones Day has won a lead mandate on the administration of the recession’s latest high-street casualty, greetings card chain Birthdays.
Partner Peter Saville of administrator Zolfo Cooper has appointed Jones Day London restructuring head Adam Plainer and partners Paul Bromfield and Michael Rutstein as he tries to find a buyer for the company.
Plainer said: “Given that pre-packs have been flavour of the month, it’s a rarity to have a full trading administration. We’re working hard to support the administrators on the legal and practical issues in running more than 300 stores.”
In the run-up to the administration, Clinton Cards, which is Birthdays’ parent company, was advised by Travers Smith banking head Jeremy Walsh.
Birthdays is the latest high-street name to be toppled by plummeting consumer spending, with Mosiac Fashions, Viyella, Woolworths, Zavvi, Waterford Wedgwood and Land of Leather all going into administration recently.
