Mothercare closes UK stores to focus on India and China
Mothercare closes UK stores to focus on India and China
The Telegraph reports that Mothercare has blamed greedy high-street landlords and the cash-strapped British consumer for its decision to close more than a quarter of its UK stores.
The baby goods retailer said it will shut 110 stores and renegotiate rents on 40 more to focus on its international operations.
Some 80% of the closures are from the estate of the Early Learning Centre – the toy retailer Mothercare bought in 2007. Mothercare said that given the growth of out-of-town and internet shopping, high-street rents were exorbitant.
Mothercare’s focus will remain on franchising Mothercare abroad, where the retailer now has 894 stores in 54 countries, including joint-ventures in Australia, China and India. It expects 150 openings this year, including its first stores in Latin America, in Colombia and Panama.
Friday, 03 June 2011 13:04