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.

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.”

 


About the Author

Philip Braund spent 16 years at the Daily Mirror as a reporter and news editor before moving to ITV. He was the series producer of the ground-breaking investigation programme The Cook Report, Managing Editor at ITV's Millbank Studios, and Head of News at ITV Central. He has won national and regional Royal Television Society awards for documentaries.



Back to Top ↑