Baby and maternity retail group Mothercare has started 2019 with a brace of store closure announcements and closing down sales.
Mothercare will be closing down 60 ‘underperforming’ stores in all, with stores in Denton, Exeter, Maidstone, Salisbury, Stockport, Newport, Yeovil and Clacton all on the list.
A extensive closing down sale was launched across many of these stores in December, offering consumers significant reductions, and will continue until all the stock is gone.
The store closures are being carried out through a company voluntary arrangement (CVA), which allows companies to close loss-making shops and secure rental discounts.
For the half-year to 6 October 2018, the retailer reported a pre-tax loss of £14.4million . In November, it claimed that negative press coverage over the past year had damaged its brand, causing UK sales to decline.