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12/04/2012
Mothercare Announce More Store Closures
Mothercare has announced plans to close more UK stores over the next three years.
In an announcement last year the struggling babywear retailer said it planned to reduce its total UK stores from 373 to 266 by March 2013. It has now said that it will reduce its store base to 200 by March 2015.
The company, which also runs Early Learning Centre, said the 200 profitable outlets it was focusing on were made up of 95 out-of-town stores and 105 High Street stores.
While the firm's UK arm has struggled as consumers cut back on spending, its international business has expanded. Mothercare said it would accelerate its international growth, with more store openings planned.
Mothercare launched a structural and operational review of its business in November, and said the review and resulting strategy was nearing completion.
"We launched a structural and operational review, appointed a new CEO, closed a significant number of underperforming stores and commenced a consultation programme to streamline our head office function.
"Today we have announced the framework of our decisive three-year strategy to restore the UK business back to profit and strengthen our foundations for growth."
The store closures leave hundreds of jobs at risk.
(H)
In an announcement last year the struggling babywear retailer said it planned to reduce its total UK stores from 373 to 266 by March 2013. It has now said that it will reduce its store base to 200 by March 2015.
The company, which also runs Early Learning Centre, said the 200 profitable outlets it was focusing on were made up of 95 out-of-town stores and 105 High Street stores.
While the firm's UK arm has struggled as consumers cut back on spending, its international business has expanded. Mothercare said it would accelerate its international growth, with more store openings planned.
Mothercare launched a structural and operational review of its business in November, and said the review and resulting strategy was nearing completion.
"We launched a structural and operational review, appointed a new CEO, closed a significant number of underperforming stores and commenced a consultation programme to streamline our head office function.
"Today we have announced the framework of our decisive three-year strategy to restore the UK business back to profit and strengthen our foundations for growth."
The store closures leave hundreds of jobs at risk.
(H)
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