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Storehouse is to change its name to Mothercare, and is aiming to expand its chain of larger Mothercare World stores from 61 to 100.

Storehouse has agreed to sell its chain of 161 Bhs stores to retail entrepreneur Philip Green for £200m, and about £20m of the proceeds will be invested in its Mothercare business.

Storehouse is to open food stores in up to 100 of its Bhs outlets in a joint venture with Iceland Group, with the creation of about 4,000 jobs.

Storehouse is to open a 31,000 sq ft Bhs store in Wrexham's Henblas Square development in August, with the creation of 90 jobs.

Storehouse is looking to expand into the home furnishings market and is also planning to refurbish its smaller Mothercare outlets and add an extra 12 Bhs stores, creating 1,500 jobs.

Storehouse, the owner of the Mothercare and Bhs chains, is to invest £120m in store information systems and new shopping formats, creating about 1,000 new jobs.

Storehouse is acquiring Children's World, the 56-strong chain, from Boots for £62m and will integrate it with Mothercare.

Storehouse plans to expand Mothercare from 270 to 360 stores in the future, and is also opening 6 new Bhs stores this year.