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Mothercare sales slid 15 per following tough trading conditions in the Middle East as the group warned of store closures in the region.
Baby products brand Mothercare has revealed it swung to a loss over the latest year as it is set to complete a refinancing of its debts after interest rates shot up. The retailer said it was taking longer to return to pre-pandemic sales levels. Mothercare, which sells its ranges through retail giant Boots in the [...]
Baby clothes seller Mothercare has named Dan Le Vesconte as its new CEO, as the retailer admitted that a recovery to pre-pandemic trading was “taking time.” The Watford-based company is seeking to recover from a torrid pandemic, which shuttered some 79 high street stores after collapsing into administration just before the first Covid lockdown. Le [...]
Shares in Mothercare surged by more than 60 per cent today after the British baby-care products retailer said it had swung back into profitability over the past financial year. The Watford headquartered company posted profits of £12.1m for the financial year 2022, compared to a £21.5m loss in FY 2021. The retailer said the “significant [...]
Gordon Brothers Brands has loaned Mothercare £19.5m to be used to repay outstanding debt. Mothercare lost £4.4m in the six months ending 10 October following a difficult year that saw company plans pushed back by the coronavirus pandemic. Net debt at the business is now £17.5 million, of which the loan from global advisory, restructuring [...]
Mothercare has finalised a franchise agreement with Boots to allow it to sell products in the high street pharmacy chain’s stores. The retailer, which shuttered all of its UK stores after collapsing into administration last year, will sell Mothercare branded clothing, home and travel products in Boots stores from the Autumn. The franchise agreement, which [...]
Mothercare said today that the start of a franchising deal with Boots has been delayed by the coronavirus pandemic. In an update to the stock exchange this morning, Mothercare said its global franchise partners “are facing considerable challenges” related to the outbreak, adding that it will “not be immune to the effect of widespread store [...]
After closing all 79 of its stores last weekend, collapsed retailer Mothercare has this morning announced wholesale changes to its leadership. Following on from November’s transformation plan, when the group announced plans to become an international franchise operation, the firm today said that chief executive Mark Newton-Jones would step down. He will remain as an [...]
Shares in Mothercare have soared this morning after the maternity and baby retailer’s UK business entered administration. Mothercare’s share price surged more than 36 per cent this morning, to 13p, after management firmed up administration plans and revealed further details on the company’s turnaround proposals. Read more: Mothercare shuts up shop in UK Last night [...]
Mothercare has called in the administrators, meaning it will shutter its 79 UK stores and put 2,500 jobs at risk. Administrators from PwC said the baby retailer’s outlets will go in a phased closure, after the UK business had been “loss making for a number of years” despite its international franchises being profitable. On Monday, [...]
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