November 8, 2019 / 4:07 PM / 12 days ago

Bluegem Capital buys back UK retailer Mamas & Papas: administrator

FILE PHOTO: Offices of Deloitte are seen in London, Britain, September 25, 2017. REUTERS/Hannah McKay

(Reuters) - British nursery retailer Mamas & Papas Retail was sold to private equity firm Bluegem Capital Partners, administrator Deloitte said on Friday, leading to the shutdown of six loss-making stores and 73 job losses.

The news comes three days after baby products retailer Mothercare (MTC.L) said it would shut all its British stores.

Mamas & Papas sells pushchairs, car seats, furniture, clothing and other nursery products.

Deloitte said the retailer was sold through a pre-pack administration to Bluegem Capital Partners, which ultimately owned the parent company Mamas & Papas Group.

A pre-pack administration enables the company to sell itself or its assets before it appoints administrators who take over the running of the business to protect creditors.

Mamas & Papas is the latest retailer to go under. House of Fraser and Debenhams have also been placed in administration.

Reporting by Samantha Machado in Bengaluru; Editing by Maju Samuel

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