Endless Capital sells Kiddicare two months after £2m takeover

 
Kasmira Jefford
Follow Kasmira
ENDLESS Capital has sold Kiddicare to online retailer Worldstores just two months after buying the mother and baby products site for £2m from Morrisons.

The turnaround specialist bought Kiddicare in July after Morrisons’ disastrous ownership of the site.

The Yorkshire-based grocer bought Kiddicare in 2011 for £70m as part of its bid to build its online presence. It acquired 10 failed former Best Buy electrical goods stores to convert into Kiddicare shops, but trading struggled.

In March the company admitted it had taken a £163m writedown on the business and put up it for sale.

Endless has returned it to a pure pay online business, cutting 700 jobs and closing all of its stores except for its Peterborough depot.

Worldstores chief executive Joe Murray said Kiddicare was a “fantastic strategic” fit for the group and its family demographic.

It is understood to have paid more than £2m for the business.