Mothercare UK has gone into administration, with the closure of all its 79 UK stores. 2500 jobs are to be lost.
Administrators from PricewaterhouseCoopers were called in on Tuesday to assess the UK trading arm and Mothercare business services.
Mothercare has already closed many shops via a Company Voluntary Arrangement process last year and it also sold its Early Learning Centre brand to the Entertainer which has a string of successful toy stores. Mothercare UK has not been making money for around 10 years, so it is not actually that surprising that the main company has decided that it is the end of the road.
Mothercare's overseas operations which consists of over 1,000 stores in more than 40 countries, generating over £500m in revenue are excluded from this restructuring plan.
Richard Lim, CEO at retail economics said ''As competition has become fiercer they have been beaten on price, convenience and the overall customer experience. Put simply, they have been left behind in today's rapidly evolving market and the board has been unable to restructure the business fast enough to cope with a new retail paradgim that has emerged.''
It is said that the stores will be undergoing a phased closure in the coming weeks and months. Of course, the focus in the meantime will be on the employees and keeping the stores trading for as long as is possible.
See the full list of closures below:
Kingston Upon Hull
Kingston Upon Thames
Stoke On Trent
If you are an employee of the business and likely to be affected by the administration then view our video below about your rights