Clintons’ US owner American Greetings has insisted there are “no plans” for major store closures at the stationery chain.

The Sunday Telegraph reported yesterday that American Greetings could shut around 120 shops, representing a quarter of its UK estate.

The report suggested the stores were part of a strategic review as they had yet to be modernised.

However American Greetings said today the reports are “false”.

In a statement it said: “Every retailer reviews its store portfolio on a store by store basis as individual leases come up for renewal, and whilst it is impossible to rule out individual store closures at some point in the future, we can confirm there are no plans to undertake a major store closure program as the reports claim.

“On the contrary, we have new store format trials underway and are actively reviewing new sites.”

American Greetings said in the last five years it has invested millions of pounds in major store refurbishment programme and “there are plans in place for further investment going forward”.