Mothercare Official Closing Down Sale Begins Following Collapse
Mothercare has launched a closing down sale following the news it has gone into administration.
The baby and maternity retailer will now commence a huge "everything must go" closing down sale with all products dramatically reduced.
The high street store, which has 79 stores across the UK, confirmed it will be filing a notice of intent to appoint administrators on Monday 4th November in the hope of ending its ongoing poor sales performance.
Company administrators PricewaterhouseCoopers say customers can expect a "huge range of discounts and bargains as all stock must go before stores are closed for the final time."
Mothercare urged customers to shop before its best ranges sell out, saying demand will be high.
A spokesman for Mothercare said: "This is a great opportunity for customers to pick up some amazing deals as everything is reduced.
"Demand will be high so don't wait to grab a fantastic deal, especially if you're Christmas shopping."
They added: "We'd also like to thank our customers for their historic support of the Mothercare brand."
Customers are urged to spend gift cards as soon as possible - so dig out any you might have sat in your purse.
Mothercare's administration comes after the company shut 58 stores internationally last year, and has been trying to sell its UK assets for a while now.
The company currently has 79 stores, 500 full time staff members and 2,000 part time staffers who are all at risk.
The group sold its Early Learning Centre business a few months ago for £13.5 million, but still recorded a loss before tax of £87.3 million this March.
They had brought in accounting firm KPMG to help them evaluate all the options they have, but is now also appointing administrators.
Mothercare follows a string of high street stores to collapse in recent months.
On Thursday 7th November, shoe shop Clarks announced it was closing a "meaningful" number of stores as the curse of the high street continues.
Featured Image Credit: PA