Mothercare Set to Slash Scores of Stores as Financial Woes Bite
Mothercare is gearing up to shut down its Isle of Wight store amid mounting financial pressure threatening the entire business. The struggling retailer has revealed a snapping list of 50 stores across the UK and Northern Ireland set for closure, marking a major shake-up for the iconic children’s brand.
Mothercare’s Mass Store Closures
- Inverness
- Kirkcaldy
- Fort Kinnaird
- Coatbridge
- Bangor, Northern Ireland
- Londonderry
- North Shields
- Doncaster
- Bradford
- Rotherham
- Crystal Peaks
- Llandudno
- Stockport
- Macclesfield
- Stafford
- Walsall
- Denton
- Blackburn
- Bedford
- Kings Lynn
- Grafton Centre, Cambridge
- Clacton
- Holloway Road
- Bexleyheath
- Hounslow
- Wandsworth
- Brixton
- Sutton
- Croydon (187)
- Colliers Wood
- Eltham
- Bromley
- maidstone/" title="Maidstone" data-wpil-keyword-link="linked">Maidstone
- Brighton
- Worthing
- Guildford
- Aldershot
- portsmouth/" title="Portsmouth" data-wpil-keyword-link="linked">Portsmouth
- Newbury
- Reading (246)
- Salisbury
- Newport, Wales
- weston-super-mare/" title="Weston-super-Mare" data-wpil-keyword-link="linked">Weston-super-Mare
- Yeovil
- Exeter
- Plymouth* (relocation planned)
- Newport, Isle of Wight
- Early Learning Centres in Plymouth and Harrogate
*Note: Plymouth store is set for relocation rather than closure.
Restructuring Plan Backed by Creditors
Mothercare has secured approval from creditors for a company voluntary arrangement (CVA) aimed at restructuring. A statement on their website explained the tough journey ahead but expressed cautious optimism about stabilising the business.
“Mothercare faced a bleak future with growing and pressing financial stresses upon the business. We have worked tirelessly as a team to get to where we are today and this fully underwritten equity issue marks the end of this initial phase, returning the Group to financial stability.”
Chief Executive Mark Newton-Jones added:
“This could not have happened without the support of all of our stakeholders for which we are very grateful. Alongside the fundraising, we have been very busy restructuring the Group for future profitability.”
Faster Store Closures and Cost Cuts Ahead
Newton-Jones acknowledged setbacks with the Childrens World CVA but revealed Mothercare has uncovered fresh solutions to “go further and faster” with right-sizing its store portfolio. Significant cost savings and greater operational efficiencies are on the table to steer the business back to sustainable profits.
“Whilst the lack of full approval for the Childrens World CVA was disappointing, we have now found a solution which allows us to go further and faster with the right-sizing of our store portfolio. We have also identified significant areas for further efficiencies and cost savings, which will underpin our return to a sustainable future.”
With axe poised, shoppers and staff across the UK brace for major upheaval as Mothercare fights for survival.
