Connect with us

Hi, what are you looking for?

United Kingdom

Mothercare becomes the latest High Street victim

Mothercare has called in administrators as it becomes the latest High Street retailer failing to cope with a rapidly changing market.

More than 2,500 jobs are at risk.

The baby goods retailer has 79 stores in the UK.

Advertisement

In a statement the company said:

“Mothercare is not capable of returning to a level of structural profitability and returns that are sustainable for the group.

“Furthermore, the company is unable to continue to satisfy the ongoing cash needs of Mothercare UK.

“Since May 2018, we have undertaken a root and branch review of the Group and Mothercare UK within it, including a number of discussions over the summer with potential partners regarding our UK Retail business.

“Furthermore, the Company is unable to continue to satisfy the ongoing cash needs of Mothercare UK.

“These notices of intent to appoint administrators in respect of Mothercare UK and MBS are a necessary step in the restructuring and refinancing of the Group.”

 

Comments

You May Also Like

United Kingdom

Film director Ridley Scott has recalled the death of actor Oliver Reed while making the Oscar winning blockbuster Gladiator. Scott said hard-drinking Reed “just...

Business

The controversial Russian businessman Viktor Baturin, well-known for his years-long counterstanding with his wealthy sister Elena, widow of Moscow ex-mayor Yuri Luzhkov, is likely...

United Kingdom

The Tremeloes. Dave Munden centre Dave Munden the Tremeloes drummer – and often lead singer – with the 60s chart toppers has died. He...

United Kingdom

The Watneys Party Seven is making a comeback. The ubiquitous 70s beer was a bland fizzing bitter ridiculed by many. The drink’s insipidness helped...