Clintons Cards in Ashford, Folkestone and Tenterden have been saved after being bought out of administration.

It was announced today that Lakeshore Lending Limited, a subsidiary of American Greetings Corporation, has bought up 397 stores preserving approximately 4,500 jobs.

This includes stores in Tenterden, Folkestone, Ashford, Tunbridge Wells and Maidstone.

Administrators Zolfo Cooper said it would still try and find a buyer for the other stores which remains on its books, including Faversham, Chatham, Ramsgate and Dartford.

The company, which went into administration on May 9, suffered poor sales during the first part of this year and has endured losses of more than £130 million since 2004.

Administrator Peter Saville said: "We have always been of the view that despite an intensely competitive retail environment and what proved to be excessively ambitious expansion plans in recent years, there was a strong underlying business contained within Clinton Cards.

"The significant number of credible expressions of interest we received for the business we have sold today, from both trade and financial buyers alike, is testament to this fact.

"We would like to thank the staff for their dedication and patience throughout what has been an understandably difficult time for all concerned and we wish both them and the new owners of the business every success for the future."