Mothercare is to close all its 79 UK stores and online business with the potential loss of 2,800 jobs after appointing administrators from PricewaterhouseCoopers on Tuesday.
The administration will not include Mothercare’s profitable overseas operations, which have more than 1,000 stores in over 40 countries.
The company, which opened its first store in 1961 and has been listed on the London stock exchange since 1972, has struggled to compete with cheap supermarket clothing ranges and the rise of online shopping.
Zelf Hussain, joint administrator and PwC partner, said Mothercare’s stores would be closing over the coming “weeks and months” with the loss of 2,485 retail jobs. The administration also affects 384 head office and distribution staff.
Via The Guardian
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