Tue, 05 Nov 2019 | ADMINISTRATION
Baby products retailer Mothercare has announced that it will file notices of intent to appoint administrators to its UK retail arm.
The notices, relating to Mothercare UK Ltd and Mothercare Business Services Ltd, are said to form part of a wider restructuring being undertaken by Mothercare plc.
Announcing the notices, the group has emphasised that other subsidiaries would not be covered by them. Mothercare plc, Mothercare UK Ltd and Mothercare Business Services Ltd will all be free to continue trading as normal.
Mothercare said that the decision "a necessary step in the restructuring and refinancing" of the group.
"Plans are well advanced and being finalised for execution imminently. A further announcement will be made in due course," it said.
The notice comes as the group undertakes a root and branch review of its business. Mothercare plc is said to be in talks with lenders over a refinancing deal to secure its trading future.
The process could lead to efforts to find a buyer for the business, with the potential for further restructuring of the whole Mothercare Group, including the structure, format and model of its UK retail operations.
Globally, the Mothercare Group generates more than £500 million in revenues each year from over 1,000 stores in more than 40 territories, with the UK business representing a relatively small segment of its overall sales.
In the year ending March 31st 2019, Mothercare plc generated £283 million in profits, while the UK arm lost £36.3 million.
The company’s UK workforce is comprised of 500 full-time employees and 2,000 part-time staff, operating across 79 outlets
The Company provides the airport industry with a wide range of capacity and demand consultancy services. The company can analyse, model, forecast and optimise the flow of people, baggage and vehicles throughout the airport environment, from airside t...
Well-Established Family Run Business, that has been in the same hands for over 20 years. The owners feel its time to step back and let others take it to the next level having facilitated that growth potential purposely over the last 3 years. Offers i...
If you are looking for an uncomplicated yet profitable business, this is it. Using RFID and BLE technology our client works across a number of sectors to electronically tag assets for ease of monitoring. Put simply, the business is one link in a chai...
WORK FROM HOME
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources