Another retail casualty for Macclesfield

Mothercare’s Mill Street shop looks set to close.

The company, which has been in financial difficulties for some time, will be closing 50 of its stores nationwide.

No formal announcement has been made on which stores will go but a leaked memo appearing to list the threatened branches has appeared online. The list includes stores in Stockport, Macclesfield, Denton and Blackburn.

The closures will leave the chain with 78 stores by 2020.

A statement from the firm said: “Recent financial performance, impacted in particular by a large number of legacy loss making stores within the UK estate, has resulted in a perilous financial condition for the group.

“Given the financial position, the board instigated a full financial review. The financial review concluded that delivering the Refinancing and the UK Restructuring represent the most viable option to establish a sustainable future for Mothercare.”

Creditors will decide whether to support the rescue package in a vote on June 1st.

Mothercare is the latest in a long list of High Street retailers who have hit serious problems.

House of Fraser, New Look  and Carpetright are just some of the big names to have been hit by the slump in the retail sector.

Ed: Despite spending £ millions on re-development schemes Stockport will be losing both Marks & Spencer and Mothercare – the only winners in all this are the developers. Take note Macclesfield!