Skip to main content

Mamas & Papas drafts in Deloitte advisers to explore sale

// Mamas & Papas hires advisers to explore sale of the business
// In 2014, the retailer turned to a CVA which led to store closures

Mamas & Papas has appointed advisers from Deloitte to explore a sale of the business as it struggles on the UK’s high street.

The baby accessories retailer hired Deloitte advisors to explore a sale just five years after the accounting company handled a CVA in 2014, resulting in Mamas & Papas closing down half of its store estate, The Sunday Times reported.

READ MORE: 

Following its restructuring, Mamas & Papas now has 31 stores in the UK with 900 colleagues.

Meanwhile, owner and private equity firm Bluegem, offloaded its £300 million stake in luxury department store Liberty in mid-July.

Furthermore, the buyout firm reportedly invested £20 million into Mamas & Papas when it bought the retailer in 2014.

After the retailer expanded its presence in the UK, it marked a return to profitability, and also revealed plans to launch concept stores at the time.

For the year ended April 2018, Mamas & Papas revealed annual losses for a second year, after sales plunged £8.2 million, down from £10.3 million a year earlier.

Parent company Stork Beta had injected £2.5 million into the retailer during the year to improve its store estate while also reducing costs.

Mamas & Papas said that operating costs had risen by £670,000 in one year because of the devaluation of sterling and the increased living wage.

Click here to sign up to Retail Gazette‘s free daily email newsletter

The post Mamas & Papas drafts in Deloitte advisers to explore sale appeared first on Retail Gazette.



from Retail Gazette https://ift.tt/2nLvq2R
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
68 comments
Read more

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been  given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxi...
1 comment
Read more

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio...
1 comment
Read more