Bluegem Capital Buys Back UK Retailer Mamas & Papas

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, Reuters reported. The news comes three days after baby products retailer Mothercare 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. Read more