Mothercare stores to close as rescue plan backed

Mothercare stores to close as rescue plan backed
 

Creditors of struggling mother and baby products retailer Mothercare have backed a restructuring plan that will lead to the closure of 50 stores.
The closures will be carried out through a company voluntary arrangement (CVA), which has been approved by the required majority of creditors.
Under the CVA, Mothercare will also raise £28m through issuing new shares.
The retailer said it continued to trade and would not be going into administration.
Last month, the firm said it was in a "perilous" financial position and confirmed that its rescue plan would involve closing 50 stores, a... read more

 
1 June 2018 in Business, Views: 58
Source: BBC
Share:
 




News Widget for Webmasters


Realtime News

 

«
»
Mo Tu We Th Fr Sa Su
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31