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Mothercare to cease operations in UK

Mothercare-the British children’s fashion company will cease operations in the United Kingdom in the following weeks and month. The company has 79 stores in the country and 2,500 employees. Mothercare’s UK arm had been up for sale before it fell into administration, but no one had stepped forward to purchase the groups local business and store portfolio. Before administration, two parties made indicative offers but neither progressed to the stage of final offering.

In the last year, the company had losses worth £36.3 million in the United Kingdom and a drop in sales of 13.5 per cent, to £336.6 million in the country. The group’s international business, meanwhile, ended the period with a profit of £28.3 million.