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Mothercare to appoint administrators for UK chain
worldtraveller
Posts: 14,013 Forumite
Mothercare is to appoint administrators for its UK high street chain, putting 2,500 jobs at risk.
The mother-and-baby-goods retailer said its UK retail operations, which comprise 79 stores, lost £36.3m last year and after a review it had become clear that the business would not return to profitability.
The move does not include Mothercare’s profitable overseas business, which has more than 1,000 stores in more than 40 countries. Mothercare said the UK administration filing was a “necessary step in the restructuring and refinancing of the group”.
The Guardian
The mother-and-baby-goods retailer said its UK retail operations, which comprise 79 stores, lost £36.3m last year and after a review it had become clear that the business would not return to profitability.
The move does not include Mothercare’s profitable overseas business, which has more than 1,000 stores in more than 40 countries. Mothercare said the UK administration filing was a “necessary step in the restructuring and refinancing of the group”.
The Guardian
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