Mothercare

Mothercare to shut 50 shops and restore CEO Mark Newton-Jones

Mothercare has announced as part of a Company Voluntary Agreement (CVA) it will shut 50 of its 137 stores with around 800 jobs axed. As part of its restructuring plan the parenting retail chain confirmed that a further 21 stores will see a rent reduction. Former CEO Mark Newton-Jones is…

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Mothercare to speed up store closures and job cuts

Mothercare have announced they are set to speed up the closure of stores and cutting of jobs, in order to attract fresh funds from investors. The baby store chain confirmed to media that it was launching an equity fund as part of a restructuring and refinancing package. The new strategy…

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Shoppers seek overseas ecommerce to combat Brexit prices

A third of UK online shoppers have chosen to buy from abroad according to a survey by online shopping community Pepper.com. Shoppers are thought to be looking overseas due to a rise in UK prices following the UK’s vote to leave the EU. The UK is much more loyal to…

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Mothercare chairman announces retirement

Mothercare, retailer for parents and young children, has announced that Alan Parker has retired from his position as non-executive chairman. In a statement the retailer thanked Alan for “his calm leadership through a challenging period”, and “his support and encouragement for the board and the significant contribution he has made…

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Mothercare reports drop in Q4 like-for-like sales

Embattled retailer Mothercare has revealed its UK like-for-like sales declined by 2.8% in the group’s Q4 results. However, online sales grew by 2.1%, with website sales growing by 7.2%. Online sales within the period represented 49% of UK sales, bringing the fiscal year to 43%. International retail sales were 3.7%…

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Mothercare latest to consider CVA store closures

Mothercare is reportedly considering the possibility of closing a third of its stores and reducing its rents through a Company Voluntary Arrangement (CVA). According to reports Mothercare would look to close around 47 of its 143 stores if a CVA is agreed with lenders. Mothercare would join a host of…

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Sainsbury’s ‘considered’ Mothercare acquisition

Sainsbury’s considered acquiring embattled retailer Mothercare but decided against making an offer, it has emerged. According to the Press Association the supermarket’s deals team had been monitoring the situation regarding the baby retailer over the past few months,  with a view to make a potential acquisition. However Sainsbury’s decided against…

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Mothercare CEO shock resignation

Mark Newton-Jones abruptly resigned from the position of CEO of Mothercare this morning as the embattled retail chain seeks to stabilise. The firm announced the appointment of David Wood as CEO with immediate effect, but the news of Newton-Jones’ departure caused the group’s share price to fall 2.3% in morning…

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Mothercare appoints KPMG to avert collapse

Mothercare has called in accountants KPMG to handle its refinancing in order to avoid collapse. The childcare retailer appointed KPMG to help it obtain waivers for loan agreements with banking lenders HSBC and Barclays. Since the start of the year Mothercare, which has 152 shops in the UK and 1,131…

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