Mothercare to close 60 outlets

Mothercare store

Struggling mother and baby products retailer Mothercare says it will be shutting 60 stores by June 2019, instead of the 50 previously earmarked for closure.

The retailer said its Childrens World division was being placed into administration.

However, 13 of its 22 stores, mainly in out-of-town locations, will transfer to other group companies and stay open.

The closures will put 900 jobs at risk, up from the 800 previously stated.

Mothercare said “a significant proportion” of the issues it was facing reflected “broader market and consumer conditions that have impacted ourselves and many other retailers with legacy store issues”.

Mothercare’s chief executive, Mark Newton-Jones, told the Today programme that while two-thirds of the retailer’s turnover now came from outside the UK, its domestic business had suffered from a lack of investment and “hadn’t had a lick of paint” in recent years.

However, its rescue plan would now allow it to modernise as a retailer.

He added: “We will really be able to speed up the transformation, and by God we need to speed up the transformation, because the retail landscape is pretty brutal at the moment.”

Source: BBC

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