THE MOTHERCARE store in Leamington will be closing along with others across the country.
The retailer – founded in 1961 – called in administrators yesterday (Tuesday) following struggles to compete with cheaper supermarket clothing and online shopping.
The closure of its 79 stores, including the one at Leamington Shopping Park, will mean some 2,800 job losses across the country.
Its overseas operations, which have more than 1,000 stores in more than 40 countries, will remain open.
Chairman Clive Whiley blamed high rent costs and shifts in consumer behaviour for the collapse.
He said: “Despite the changes implemented over the last 18 months contributing to a significant reduction in net debt over the same period, Mothercare UK continues to consume cash on an unsustainable basis.
“The action announced today has been carefully thought through and without it, the existence of the wider group would be threatened. We know it is right for the wider group to ensure that Mothercare remains the leading global brand for parents and young children with a bright and solvent future within the international franchise business.”
In the meantime it will be business as usual while stock is sold off.
