Endless on verge of clinching deal for Morrisons’ Kiddicare

TURNAROUND investor Endless is close to clinching a deal to buy Morrisons’ baby products retailer Kiddicare, it is understood.

According to Sky News, although a formal agreement has not been reached, city sources believe the Leeds-based private equity house has almost succeeded in fighting off a rival bid from Better Capital for Kiddicare.

It is thought Endless and Morrisons could announce a deal as soon as tomorrow.

The Bradford-based grocer bought Kiddicare for £70m in 2011, but announced in April it was looking for a buyer.

It said Kiddicare had delivered a “disappointing” performance and said it was “no longer strategic”.

It is thought that Morrisons will be forced to take a huge writedown to offload Kiddicare.

The sale could include all 10 of the stores operating under the Kiddicare name, or may involve the closure of some of the sites before a deal completes, insiders told Sky News.