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Mothercare announces store closures
Monday April 16th 2012
Mothercare has announced plans to close 111 more stores in the UK, with 730 jobs put at risk.
The store closures will take place over the next three years. As part of the move, 36 Mothercare sites and 75 Early Learning Centres will close, taking the company's overall number of stores to 200.
The decision has been blamed on weak trade, with new figures showing that the group saw UK like-for-like sales fall by 9.5% in the three months to the end of of March.
The store closures should help the firm to become a "lean, more competitive business", according to its executive chairman, Alan Parker.
He said: "Mothercare is a great global brand with strong international partners. Today marks the beginning of a three-year turnaround and I am confident we will deliver a sustained recovery and long-term success."
In addition to the store closures, Mothercare plans to reduce payroll costs at its UK head office by as much as 16%. This will equate to around 90 positions.
Copyright Press Association 2012
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