Mothercare store in Norwich will close
PUBLISHED: 20:25 05 November 2019 | UPDATED: 13:35 06 November 2019
Staff at Mothercare in Norwich face an uncertain future as it has been confirmed all its stores will close - including at the Riverside Retail Park
The new administrators of the troubled retailer has said it will close all its 79 shops in the UK, putting 2,500 jobs at risk.
It came as the mother and baby retailer revealed it is holding last-ditch talks with potential partners as it battles to keep its brand in the UK and had raised £3.2 million from shareholders.
The group is understood to be looking at options which could include finding a partner to keep the Mothercare brand alive online, or a supermarket that has space to sell Mothercare-branded products.
Mothercare said it had raised £3.2 million from a group of existing investors, including its biggest shareholder, sheep farmer and investment banker Richard Griffiths.
In his first remarks since the crisis started on Monday, chairman Clive Whiley said British high streets were facing "a near existential problem" with high rents and customers deciding to shop online.
"Mothercare UK is far from immune to these headwinds," he said, adding it had been burning through cash.
"It is with deep regret and sadness that we have been unable to avoid the administration," Mr Whiley added.