Mothercare store closure plan derailed
Mothercare's plan to close dozens of stores has been derailed after the struggling retailer admitted it got its sums wrong.
Last Friday the company said lenders had backed a restructuring plan that included closing 50 stores.
However, Mothercare said it now realised that plans for its Childrens World division had not been approved by the necessary 75% majority.
The baby goods retailer will now consider all options for the business.
The Childrens World division accounts for 21 of Mothercare's 152 stores.
Creditors voted separately on a company voluntary arrangement (CVA), which allows... read more
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