Mothercare is set to close all 79 of it’s UK stores, resulting in a loss of 2,800 jobs it was announced yesterday.
Chairman of Mothercare, Clive Whiley, admitted that administrators PricewaterhouseCoopers (PwC) had been called to carry out phased closure of the UK stores, in a bid to save the wider group.
Zelf Hussain, the joint administrator and PwC partner commented on the closures: “This is a sad moment for a well-known high street name. No one is immune from the challenging conditions faced by the UK retail sector. Like many other retailers, Mothercare has been hit hard by increasing cost pressures and changes in consumer spending.
Whiley said, “The UK high street is facing a near existential problem with intensifying and compounding pressures across numerous fronts, most notably the high levels of rent and rates and the continuing shifts in consumer behaviour from high street to online.”
The article Mothercare to close all UK stores appeared first on World Branding Forum.
No comments:
Post a Comment