Deals & MarketsMorrisons loses £68m on sale of Kiddicare

Morrisons loses £68m on sale of Kiddicare

Britain’s fourth largest supermarket chain has confirmed the sale of its Kiddicare business for Endless Capital, a private equity group, for £2m – just three years after it bought it for £70m.

Britain’s fourth largest supermarket chain has confirmed the sale of its Kiddicare business for Endless Capital, a private equity group, for £2m – just three years after it bought it for £70m.

Morrisons, a grocery giant based in Yorkshire, purchased the baby products  retailer in 2011 in an effort to expand its presence online. After striking a £216m online shopping deal with Ocado, the company announced in March that Kiddicare no longer fit with its strategy and accepted a £163m writedown on the loss-making business.

Morrisons has retained the liabilities for ten Kiddicare store leases.

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