The British children’s fashion company has 79 stores in the country and about 2,500 employees. The company ended the year with sales of 336.6 million pounds (381.5 million euros) in the United Kingdom.
Mothercare falls into the crisis. The British children’s fashion company will cease operations in the United Kingdom in the following weeks and months, according to The Sun. The company has 79 stores in the country and 2,500 employees.
This happens after the company called in administrators from PricewaterhouseCoopers (PwC) on Tuesday, November 5. Zelf Hussain, joint administrator and PwC partner, said the closures would begin over the coming “weeks and months”. The executive also appointed that “no one is immune from the challenging conditions faced by the UK retail sector.”
Mothercare has 79 stores in the country and 2,500 employees
Mothercare’s UK arm had been up for sale before it fell into administration, but no one had stepped forward to purchase the groups local business and store portfolio. Before administration, two parties made indicative offers but neither progressed to the stage of final offering.
In the last year, the company had losses of 36.3 million pounds (42 million euros) in the United Kingdom and a drop in sales of 13.5%, to 336.6 million pounds (381.5 million euros) in the country. The group’s international business, meanwhile, ended the period with a profit of 28.3 million pounds (33 million euros).