Closure warning for Mothercare staff in Peterborough
Baby care retailer Mothercare's remaining store in Peterborough could close within weeks, administrators have warned.
The store in the Serpentine Green Shopping Centre, in Hampton, is one of 79 Mothercare stores that are set to shut in the near future.
It comes after directors placed the loss-making Mothercare UK into adminstration.
The company had warned two days ago it intended to call in administrators for its struggling UK business - a stark contrast with its highly profitable international business of 1,010 stores in 40 countries, which will continue to operate as normal.
Zelf Hussain, joint administrator and PwC partner, said: "This is a sad moment for a well-known high street name.
"No-one is immune from the challenging conditions faced by the UK retail sector.
"Like many other retailers, Mothercare has been hit hard by increasing cost pressures and changes in consumer spending.
“It’s with real regret that we have to implement a phased closure of all UK stores.
"Our focus will be to help employees and keep the stores trading for as long as possible.”
It is estimated that about 2,500 jobs will be lost with the stores' closure.
Mothercare closed its store in Bridge Street, Peterborough, three years ago and amalgamated the outlet with its branch in Hampton.