Restructuring firm loans Mothercare £20m to repay debts Restructuring firm loans Mothercare £20m to repay debts 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 finalises franchise agreement to sell products in Boots stores 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 franchising deal with Boots delayed by coronavirus 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 [...]
Mothercare replaces senior leadership as firm gets to grips with new life January 23, 2020 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 [...]
Mothercare shares surge after UK business enters administration November 6, 2019 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 shuts up shop in UK as PwC called in for administration November 5, 2019 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, [...]
Mothercare ‘finalising plans’ to put UK business into administration November 3, 2019 Mothercare is said to be finalising a restructuring plan that could involve putting its British operations into administration this week, in what would be the latest blow to the UK’s struggling retail sector. The company, which now leans heavily on its franchising business abroad, has readied administrators to take over the unit in the coming [...]
Mothercare share price slumps as retailer warns on profits July 26, 2019 Mothercare today warned that profits will not grow this year as “fragile” consumer confidence and political uncertainty hurt the retailer. Shares fell sharply on the news, down 8.9 per cent to just 18p, as investors sold out of the struggling high street store. Read more: Mothercare in talks to spin off struggling UK stores The [...]
Mothercare’s annual loss jumps to £87m, delayed annual results reveal May 24, 2019 Mothercare’s annual loss grew to £87.3m in the last financial year it said today in a delayed set of annual results. The struggling retailer was due to report its results yesterday, but pushed back its report to today because of the “complexity” of its finances, sending shares down 5.2 per cent. Sales fell 7.9 per cent to [...]
Mothercare shares fall as it delays full-year results due to their ‘complexity’ May 23, 2019 Global retailer Mothercare’s shares have fallen this morning after it delayed the publishing of its full-year financial results results due to their “complexity”. Read more: Mothercare suffers another drop in UK like-for-like sales The company, a global retailer for parents and young children which has struggled amid a declining high street, released a statement today [...]