Mamas & Papas falls into administration
Bluegem Capital, which has owned Mamas & Papas since 2014, has regained control of the retailer through a pre-pack administration.
This will enable Mamas & Papas to shed some of its financial liabilities including six loss-making stores located in Aberdeen, Preston, Milton Keynes, Lincoln, Leamington and Fareham. These stores all closed today. Mamas & Papas’ remaining stores will continue to trade as normal – for now.
Mamas & Papas has made 73 staff redundant with immediate effect while 54 further jobs are at risk at its head office.
Deloitte has been appointed as administrators
Mamas & Papas was founded in 1981 in Huddersfield by David and Luisa Scacchetti and rapidly grew but was bought by Bluegem after a restructuring process five years ago.
Riccardo Cincotta, executive chairman of Mamas & Papas, said: “These actions are always difficult but they are also necessary in a challenging market to ensure Mamas & Papas achieves its considerable future potential.
“We remain fully focused on maintaining our position as the UK’s most popular nursery brand. We will continue to review our store portfolio in the light of customers’ changing behaviour and we remain fully committed to an omni-channel offering that reflects their evolving needs.”
The retailer said all customer orders are unaffected by the administration and will be delivered.
Mothercare announced on Monday that it was calling in the administrators after failing to find a buyer for its UK stores.