Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
‘Big Four’ accountancy firm Deloitte has advised on the pre-pack sale of Mamas and Papas to Bluegem Capital after it entered administration.
The nursery company has been sold to the private equity firm, which has owned Mamas and Papas since 2014, and as such has regained control over the business’s assets.
The move will see the retailer close six stores, resulting in 73 staff members made redundant with immediate effect, whilst another 54 jobs at its head office remain at risk.
The six loss-making stores set to close are located in Aberdeen, Fareham, Lincoln, Leamington, Milton Keynes and Preston. Mamas and Papas added that 21 stores will still remain open, however it will continue to review its Huddersfield head office.
Riccardo Cincotta, executive chairman of Mamas and 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.”
He added:”Our digital performance is tracking ahead of expectation, our wholesale distribution in the UK and Internationally continues to grow and our in-store Personal Shopping experience remains highly valued by our customers.”
