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Mothercare lines up administrators for UK business

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Mothercare AdministrationMothercare is finalising a radical restructuring plan that could see its British operations placed into administration this week, dealing a fresh blow to a beleaguered retail sector. 

Sky News has states that the company, which is now dominated by its franchising business outside the UK, has put administrators on standby to take over its domestic division within days.

If confirmed, the move would put thousands more high street jobs at risk. It would not, however, directly affect its publicly quoted parent company, which is in advanced talks with lenders about a fresh refinancing that would secure its future, according to insiders.

Mothercare’s UK business represents only a small part of its overall group sales.

Mothercare Administration

Sources said that any insolvency process would trigger a renewed effort to find a buyer and possibly a further restructuring, potentially including another wave of shop closures. The company is thought to have lined up an accountancy firm to handle the administration of Mothercare UK Limited, this is believed to be KPMG the restructuring experts.

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