Suffolk's Clintons stores are at risk as the company is considering plans to close 38 shops nationwide. 

The card shop is considering the closures to avoid insolvency, according to reports. 

It is understood the high street retailer, which has stores in Ipswich, Bury St Edmunds, Felixstowe and Haverhill, has appointed restructuring experts from FRP Advisory as it seeks to secure its future.

The business is looking at a move which could see the firm swap its debt for equity and shut about a fifth of its estate of 179 shops, according to the Times.

Clintons is among retailers to have been affected by depressed high street footfall and competition from online rivals.

The reports quoted documents over the restructuring plan being proposed to creditors, which said Clintons “will have no option but to commence formal insolvency proceedings” if it does not secure a deal.

It comes after budget retailer Wilko confirmed it had filed a notice of intent to appoint administrators, putting the future of its 400 stores and roughly 12,000 staff at risk.

Clinton has been contacted for comment.