Watch 2,500 UK Jobs Under Threat as Mothercare Faces Collapse News Video

28 sec read

“Baby goods retailer Mothercare has said it plans to call in administrators to the troubled firm’s UK business, putting 2,500 jobs at risk.

“Mothercare said its 79 UK stores were “not capable” of achieving a sufficient level of profitability and that so far it had failed to find a buyer.

“It said its stores would continue to trade as normal for the time being.

“Analysts said Mothercare had been slow to adapt to competition from rivals and the switch to online retailing.

“Mothercare has already gone through a rescue deal, known as a company voluntary arrangement (CVA). This is an insolvency process that allows a business to reach an agreement with its creditors to pay off all or part of its debts. The process enabled the chain to shut 55 shops.”

Read more at BBC


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