Mothercare in King’s Lynn to launch closing down sale
PUBLISHED: 16:36 18 December 2018
Mothercare is set to close it’s King’s Lynn branch as it axes 60 stores across the country.
The store on the Hardwick Retail Park is launching a closing down sale on Wednesday, with all stock reduced to clear.
It comes after other stores across the UK also annouced they would be holding closing down sales, including Newport, Gwent; Portsmouth and Cambridge.
The closures, which will result in hundreds of job losses, will be carried out through a company voluntary arrangement (CVA) – a move which allows companies to close loss-making shops and secure rental discounts.
Announcing the move in May, chairman Clive Whiley said the business was “unsustainable” and needed to re-finance.
“These measures provide a solid platform from which to reposition the group and begin to focus on growth, both in the UK and internationally,” he said.