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Mothercare stores to close
10:32, 12 April 2012
Struggling retailer Mothercare has announced plans to close dozens more stores in the UK.
It will shut a further 111 shops over the next three years in addition to closures announced last year.
It could affect the nine stores here in Kent - with more than 700 jobs lost nationally.
Alan Parker, executive chairman, said the changes will see the group transformed into a "lean, more competitive business", adding: "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."
Mothercare said as part of its cost-reduction programme it would slash UK head office payroll costs by up to 16%, which will equate to around 90 roles.
The remaining 200 stores will be "profitable", the group said, and will comprise 95 out-of-town sites and 105 high street locations, while the closures will improve UK profits by £13 million by March 2015.
Mothercare has already closed 62 stores in the current financial year, three Mothercare outlets and 59 Early Learning Centres.