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High Street

Mothercare appoints KPMG as advisers

Mothercare has appointed ‘Big Four’ accountancy firm KPMG as advisers to help assess its options for its embattled retail business.

According to the Times, the decision comes as its chief executive Mark Newton-Jones has previously outlined plans to shift the UK side of the business into an independent franchise model, the same structure as its current international operations.

Reports also suggest that KPMG has been called in to look at possible contingency plans including a second Company Voluntary Agreement (CVA) and is also considering an outright sale of the business.

Mothercare previously reported losses before tax of £87.3m for the year ending 30 March 2019.

Mothercare told the paper: “Our priority is to complete the transformation of the business with a near-term focus on evolving and optimising the ownership, structure and model for our UK retail operations as an independent franchise.”

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