British Baby Products Chain Mothercare Will Apply For Bankruptcy
Mothercare, the UK baby retailer, is preparing to apply for bankruptcy. 2 thousand 500 people will be unemployed if the company closes its stores.
It was stated that baby products retailer Mothercare’s 79 stores in the UK were experiencing profitability problems and the company was preparing to apply for bankruptcy. 2 thousand 500 people are expected to be dismissed if the company’s stores are closed.
Mothercare’s stores outside the UK posted a total of 36.3 million losses in March of this year. It was stated that the company has been negotiating for a long time to sell its stores in the UK but has not yet found a buyer.
The UK’s largest retail chains are due to recent economic risks and changes in consumer demand in the UK; to dismiss its employees, close stores or bankruptcy.
The UK toy company Toys R Us, the electronic retail chain Maplin, the carpet company Carpetright, and British chef Jamie Oliver’s 25-restaurant chain are among the companies that have recently gone bankrupt.