Morrisons faces £160m hit over Kiddicare
MORRISONS is facing a £160m hit on its takeover of Kiddicare, according to reports.
The Sunday Times has said that Bradford-headquartered Morrisons will be forced to take the huge writedown as it attempts to offload the baby products retailer.
The paper also said Kiddicare has attracted interest from several turnaround funds.
Morrisons bought Kiddicare for £70m in 2011, but announced last month it was looking for a buyer. It said Kiddicare had delivered a “disappointing” performance and said it was “no longer strategic”.
