Mothercare to close a further 111 UK stores
12 April 2012
The baby high street retailer plans to shutdown 111 UK stores over the next three years, which will affect 730 employees.
Mothercare announced a fall in UK sales of 9.5% for the 12 weeks to 31 March whilstinternational sales grew by 18%.
As part of the company’s cost-cutting program, it plans to reduce UK head office payroll costs by 16%, which will result in around 90 job cuts.
Alan Parker, Mothercare’s executive chairman, says the changes will transform the company into a “lean, more competitive business”.
“Mothercare is a great global brand with strong international partners. Today marks the beginning of a three-year turnaround and I am confident we will deliver a sustained recovery and long-term success.”
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