Overcast

Overcast

max temp: 21°C

min temp: 13°C

Search

Mothercare will not confirm whether Ipswich, Clacton or Chelmsford are among 50 stores to close until ‘all staff have been informed’

PUBLISHED: 07:58 17 May 2018 | UPDATED: 09:08 17 May 2018

Mothercare at the Copdock Mill Interchant, Ipswich. Picture: GOOGLE

Mothercare at the Copdock Mill Interchant, Ipswich. Picture: GOOGLE

GOOGLE

Mothercare has confirmed it is to axe 50 under-performing stories – however it will not comment on individual store closures until all staff have been informed.

The retailer, which employs 3,000 people across 137 outlets – including in Ipswich, Clacton, Chelmsford and Norwich – said the closures would be carried out through a company voluntary agreement(CVA).

The CVA, which allows companies to close loss-making shops and secure rental discounts, is expected to bring a £10m cash-flow for the company.

A Mothercare spokesman said: “We can’t comment on individual store closures until all staff have been informed, which is our absolute priority.

“Of course we regret having to close stores and the impact this will have on colleagues.

“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.”

As part of the restructuring, Mothercare also announced a refinancing package worth up to £113.5 million.

Chairman Clive Whiley said: “The recent financial performance of the business, impacted in particular by a large number of legacy loss making stores within the UK estate, has resulted in an unsustainable situation for the Mothercare brand, meaning the group was in clear need of an appropriate resolution.

“These comprehensive measures provide a renewed and stable financial structure for the business and will drive a step change in Mothercare’s transformation.

“These measures provide a solid platform from which to reposition the group and begin to focus on growth, both in the UK and internationally.”

Since January, Toys R Us and Maplin have filed for administration while fashion retailers including New Look have embarked on store closure programmes.

Possible plans to arm rural officers look unlikely to be applied any time soon to forces in East Anglia.

An ambulance chief has defended his service after an independent inquiry revealed ambulance delays were not to blame for the deaths of any patients across East Anglia.

A spokesperson for Suffolk police said that they were called to the man, who was trapped in Landseer Park at 7.50am yesterday morning.

A major roadworks scheme which is set to cause chaos on a key route in Ipswich for up to six months saw dozens of people turn out for a meeting on the matter.

With the Suffolk Show only eight days away we have put together a guide of everything you need to know about the two-day event.

From a children’s festival to gruesome goings-on at a castle, wildlife trails and even a superhero training day, there are lots of open-air activities to enjoy over half-term week - not forgetting the Suffolk Show!

Throwback Thursday returns for another week, this time remembering May 1999.

Tributes have been paid to a leading Essex historian who was instrumental in the discovery of Richard III’s remains.

Writer Richard Curtis had concerns that calling his new film “Suffolk Lad” may have brought some pronunciation issues, but as reporter MICHAEL STEWARD found out there is a Suffolk and Norfolk on both sides of the pond.

Most read

Show Job Lists

Topic pages

Newsletter Sign Up

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24