Mothercare unable to confirm future of Stevenage branch amid planned closures
- Credit: Archant
Mothercare was today unable to confirm whether its Stevenage store will be one of the 50 set to be axed as part of a rescue plan.
The shake-up at the babycare retailer, which has been trading since 1961, is to see it shrink from 137 to 78 stores in the next two years – down from more than 400 locations in 2007.
Contacted by the Comet today, Mothercare was unable to confirm whether the branch on Stevenage’s Monkswood Retail Park would be staying open as the firm enters a company voluntary arrangement.
“We can’t comment on individual store closures until all staff have been informed, which is our absolute priority,” a Mothercare spokesman said.
“Of course we regret having to close stores and the impact this will have on colleagues.
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“However, we had no alternative to executing a CVA. The business was in an unsustainable situation and was in clear need of an appropriate resolution and today’s comprehensive measures provide a renewed and stable financial structure for the business, and will allow Mothercare to accelerate its adaptation to the shifting dynamic towards online.”
Interim chief executive chairman Clive Whiley has called the brand’s position “unsustainable”. The store closures are expected to result in 800 job losses nationally.
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The nearest Mothercare branches to Stevenage are in Harlow, Bedford and Watford – where the firm has its head office.