BABY superstore chain Kiddicare looks set to close its Hampshire store as it aims to focus on its online business
The firm, which has a store in Charles Watts Way, Hedge End, will close its ten stores after the business was sold by Morrisons to company turnaround funders Endless LLP for £2 million.
The store currently has a closing down sale
It is estimated between 700 and 800 jobs will go nationwide and a consultation process is currently underway.
A spokesman for Kiddicare said it was not possible to confirm how many jobs would be lost in Hedge End.
In a statement issued by Endless LLP, it confirmed it acquired Kiddicare from Morrisons.
It said the firm recorded sales of circa £80million for the year ending February 2014, adding Morrisons announced earlier this year that Kiddicare was “non-strategic” and would seek a transfer to new ownership in 2014.
Garry Wilson, managing partner of Endless, said: “Kiddicare has a history as a trusted brand in the children’s market. We will be working hard with management to grow the business over the long-term.”
Kiddicare was founded in 1974 and operates online and from 11 stores.