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Mothercare Australia goes into administration

Maternity and children’s retailer Mothercare Australia has gone into administration after the Myer family pulled the pin on a deal to buy the business.

Mothercare Australia said Myer Family Company Holdings had terminated an agreement, made late last year, to acquire the retailer for about AUD6 million (USD6.2m).

Myer pulled out because some conditions were not fulfilled or waived.