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Mamas & Papas Conclude Pre-Pack Deal

Mamas & Papas have confirmed that they entered Administration yesterday and concluded a pre-packaged Administration deal. This is the second babycare retailer to enter Administration this week, following the collapse of Mothercare.

The Administrators, Deloitte, concluded the pre-packaged deal immediately upon the company entering Administration yesterday. The pre-pack deal is with the company’s current owners, Bluegem Capital, who acquired Mamas & Papas in 2014. It was at this time that Mamas & Papas entered a CVA to agree a series of rent cuts at stores.

It is reported that the deal has seen Deloitte sell off assets to other companies within the group and close six unprofitable stores in Aberdeen, Milton Keynes, Lincoln, Leamington Spa and Fareham. These store closures have resulted in the loss of jobs for 73 employees, with a further 54 at risk as the company’s head office operations in Huddersfield are reviewed.

Following the pre-pack the 26 other stores have remained open and continue to trade along with the company’s online sales which have been unaffected by the Administration. This is believed to have saved over 600 jobs.

The announcement yesterday that Mothercare would be closing down their stores as part of the Administration has resulted in another bad week for the retail and specifically for the babycare industry. It is not believed that the Mothercare collapse affected the decision for Mamas & Papas to enter Administration, despite them being a supply to them.

 

 

Posted: 09.11.2019
Tags:  announcement
 


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