The chairman of Mothercare has unveiled a major restructuring to turn around the retailer’s troubled UK business involving a further 111 store closures and more than 800 job losses.
Alan Parker, the former chief executive of Costa Coffee’s owner Whitbread, also admitted the group had considered “pulling out” of the UK completely to focus on its international operation, as part of his strategic review.
He made his comments as Mothercare posted a calamitous 8.2 per cent fall in underlying UK sales in the 12 weeks to 31 March, capping a terrible year for the maternity retailer. Full post.
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