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Business News: The new chief executive of Mothercare says his plans to turnaround the baby clothing retailer by selling stolen goods out the back of each branch have paid off.

“I had the idea when a man in my local pub asked me if I wanted to buy a toaster,” said Malcom Tetherbridge.

“It occurred to me that I’ll never turn the company around selling prams and bibs – what we needed to do was use our network of shops to flog dodgy goods. A mate of mine called Kevin has a lorry and he’s always trying to shift stuff he’s nicked.”

Mothercare shares soared on the news and other retailers have hinted they might do the same – Holland & Barrett is currently exploring plans to sell ‘no questions asked’ used electrical goods at car boot sales.

“While selling stolen goods has led to some short term success, the most important quarter is yet to come,” said financial analyst Sarah Gilbert. “And I don’t know how the city will react to news that Mothercare is breaking the law. Normally bankers and city traders are really against that kind of thing.”

Story: Simon Swatman

 

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