Mothercare has announced it would close another nine stores as part of its CVA after it Childrens World went into administration.
Mothercare’s subsidiary Childrens World has seen proposals for a company voluntary agreement (CVA) rejected by shareholders.
Mothercare's CVA proposals have been approved by its creditors, giving the retailer the green light to shut down almost 50 stores
Mothercare has ruled that a management buyout was “100 per cent not” an option in the future.
Mothercare has confirmed the appointment of Mark Newton-Jones as its chief executive officer.
Mothercare has laid bare its financial struggles in its annual report just hours after launching a CVA.
Mothercare is set to shut down 50 of its underperforming stores and bring back its recently-ousted CEO.
Mothercare is poised to speed up store closures in order to secure the fresh funds it desperately needs from investors.
Mothercare has revealed it is desperately looking for cash to keep its head above water and will seek investment from investors.
Mothercare’s fresh chief executive David Wood is poised to expose the troubles it faces amid its annual results next week.