Company News 

Seven days: 8 November 2019

Seven days: 8 November 2019

High street turmoil

Mothercare (MOTC) has announced plans to appoint administrators to its UK subsidiary, claiming the business is “not capable of returning to a level of structural profitability”, and that “the company is unable to continue to satisfy the ongoing cash needs of Mothercare UK”. The early-years retailer’s international business will continue to trade, but its 79 stores in the UK will close. The group’s management has been working to restore the UK business to growth for some time now. In July last year, it completed a comprehensive restructuring and refinancing programme, raising £32.5m through a share placing and closing stores equivalent to 30 per cent of its space in the UK.

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