The greetings card retailer said it is coming to the end of its five-year credit facilities with Barclays and RBS.
A spokesman said that while now is “not the ideal time”, there is “nothing untoward about it. There is just a simple need to renegotiate”.
He said the discussions had to be completed by the end of the year, but a decision is likely to be made in the next few months.
The retailer’s bank borrowings amounted to£63m at the end of its financial year ending August 3, 2008.
In December this year Clinton Cards is due to repay the£12m final instalment of the debt it incurred when acquiring rival Birthdays in December 2004.
Clinton Cards had a poor Christmas, with like-for-like sales down 4.1 per cent in the five weeks to January 4. Like-for-like sales also fell 3.9 per cent at its Birthdays brand during the period.
Like-for-likes in the 23 weeks to January 11 fell 6.2 per cent at Clinton and 4.1 per cent at Birthdays, representing a 5.7 per cent overall slump.
Last month Clinton Cards managing director Mike Bugler stood down. His responsibilities have been taken on by group managing director Clinton Lewin and group finance director Barry Hartog.