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Lakeside's Mothercare escapes nationwide cull
10:55am Thursday 12th April 2012 in News
THE Lakeside branch of Mothercare has escaped a cull of more than 100 stores nationwide.
The struggling retailer has announced it will close 111 stores over the next three years.
Seventy five of these will be the chain’s Early Learning Centre stores and 36 will be Mothercare stores.
It has been confirmed the Thurrock branch, in Lakeside Retail Park, is safe.
The company, which already closed 62 shops last year, has seen sales in the UK fall by 6.3 per cent, following increased competition from online retailers and supermarkets.
However, sales overseas are moving in the opposite direction, and have risen by 16 per cent.
The company believes its store reduction programme in the UK will improve its profits by £13m by March 2015.