Future of Northampton Mothercare uncertain as store closures announced
The future of a Mothercare store in Northampton is unclear as the retailer has today announced it will close 50 stores across the UK.
The store closures will leave the baby retailer with 78 shops throughout the country by 2020.
A spokesman for Mothercare today neither confirmed or denied whether the St James Retail Park shop was among those to shut as part of cost-cutting measures.
He said: "We can’t comment on individual store closures until all staff have been informed, which is our absolute priority.
"Of course, we regret having to close stores and the impact this will have on colleagues.
"However, we had no alternative to executing a CVA (a Company Voluntary Agreement to pay off the company's creditors).
"The business was in an unsustainable situation and was in clear need of an appropriate resolution and today’s comprehensive measures provide a renewed and stable financial structure for the business and will allow Mothercare to accelerate its adaptation to the shifting dynamic towards online."