- Huw Hughes
-
|
Maternity and babywear specialist Mothercare has called in advisors from
accountancy firm KPMG to discuss options for the company, a move that
raises concerns for the future of 2,500 employees across 79 stores.
A Mothercare spokesperson said: “Our immediate priority is to complete
the transformation of the business with a near-term focus on evolving and
optimising the ownership, structure and model for our UK retail operations
as an independent franchise.”
The company fell to a 36.3 million pound loss last year and shut 55
stores as part of a company voluntary arrangement (CVA). It has been
attempting to sell its UK arm but has so far been unsuccessful.
In March, Mothercare announced it had offloaded its Early Learning
Centre (ELC) business to Teal Brands, the owner of toy specialist the
Entertainer Group, for 13.5 million pounds as part of the retailer’s wider
cost-cutting turnaround scheme.
Photo credit: Mothercare, Facebook
