MOTHERCARE will shut 60 of its retailers — greater than a 3rd of its UK operation — in a drastic try and keep away from going bust.
The chain is to type a restructuring plan, which incorporates rehiring its ousted chairman Mark Newton-Jones. Right here’s the lowdown on the closures…
Which shops are closing?
Mothercare is about to close 60 retailers by June 2019, with many shedding their jobs because of this.
The retailer owns 137 shops throughout the nation, so the closures symbolize over a 3rd of the retailer’s whole portfolio.
The additional closures primarily come from its Childrens World division, which is able to go into administration.
Many of those have reportedly been struggling to compete with low-cost supermarkets in latest instances.
What number of jobs are being reduce?
Round 900 workers might lose their jobs.
Mothercare, which was based in 1961, has greater than 3,000 workers within the UK in complete.
The corporate’s headquarters are in Watford, Hertfordshire.
Does the choice mirror fashionable instances on our Excessive Road?
Sadly, the transfer follows numerous our favorite chains to both announce administration or retailer closure.
Toys R Us went bust earlier this 12 months and since shut most of its UK operations.
And New Look, Carpetright, Home of Fraser, Prezzo and Byron Burger have all asserting closures lately.