Uncertain Future For Isle Of Wight Mothercare Store

Mothercare stores closing

The closures could save the company £10 million a year, as well as rent reductions being implemented in a further 71 stores. Mothercare has 13 stores in the region: Manchester Fort, Crown Point Denton - which has already lost its M&S Outlet this year - Stockport, Macclesfield, Altrincham, Warrington, Blackburn, Prescot, Preston, Aintree Racecourse Retail Park, Bromborough, Chester and Llandudno.

Shares in Mothercare were up 4.8 pence at 26.6 pence at 0832 GMT, valuing the business at 46 million pounds.

He told Express.co.uk: "Allowing a business to continue trading and its existing management to retain control, CVAs are sometimes viewed as a more attractive option than other methods of insolvency, such as pre-pack administrations".

LONDON, May 17 (Reuters) - Britain's Mothercare, the struggling mother and baby products retailer, said it would close over a third of its stores as part of a survival plan that also sees the return of the chief executive who abruptly departed just five weeks ago.

This is not the first time Mothercare has struggled, with the retailer closing nearly half of its stores across the United Kingdom in the last five years.

International Game Technology (NYSE:IGT) Given News Sentiment Rating of 0.06
The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.39 by ($0.37). The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.

"This in turn could force local councils to increase business rates to make up for revenue shortfalls". However, we had no alternative to executing a CVA.

The firm's sales and profit have been hammered by intense competition from supermarket groups and online retailers in its main United Kingdom market as well as by rising costs, resulting in what it called "a perilous financial condition".

Parker was instrumental in ousting Newton-Jones, but the former chief executive will now resume his role due to the leadership of interim executive chairman Clive Whiley. Its shares have lost 83 percent of their value over the past year.

This is made up of a proposed equity capital raising of £28m expected to be launched in July 2018, a revised committed debt facilities of £67.5m, new £8m shareholder loans from certain of the company's largest shareholders and a new debtor-backed facility of up to £10m from one of the company's trade partners.

Shoppers and retail experts are unsurprised by the company's decline. "Poor customer service. Overpriced clothing with generic designs".

Related:

Comments

Latest news

Backstreet Boys' first new single in 5 years
They will likely be adding the new single to the setlist of their Larger Than Life show in Las Vegas when it resumes this July. We've got it on repeat already! But the song quickly picks up to match the catchy tunes Backstreet Boys fans come to love.

NCLT allows Ericsson insolvency plea against RCom
After making a weak opening, the stock further tanked 20 per cent to Rs 9.95 on the BSE. The company shut down its consumer mobile business late a year ago .

Pitt set for prime time
The Pirates, set to play the Miami Marlins on the same day at 7:05 p.m. changed the start time of their game to 1:05 p.m. Penn State and Pittsburgh will meet in a primetime, nationally televised college football game on September 8 at 8 p.m.

Thousands of doses of Ebola vaccine arrive in DRC
The vaccine requires storage at a temperature between -60 and -80 degrees C, tricky in a country with unreliable electricity. Teams are also setting up two Ebola treatment centers (ETCs) in Mbandaka and Bikoro with 20 beds each.

Fixed odds betting machines maximum stake slashed to £2
The speed with which gamblers can lay a bet - every 20 seconds - and the maximum size of the stake - £100 - make FOBTs dangerously attractive, he said.

USA crude exports average record high 2.566 million b/d in past week
At 432.4 million barrels, USA crude oil inventories are in the lower half of the average range for this time of year. Momentum is neutral to negative as the fast stochastic generated a crossover sell signal in overbought territory.

PUBG Mobile updated with new Miramar Map, progress missions, more
The addition of the Miramar map is the big-ticket item in the latest update, which also adds several new weapons and vehicles. The Miramar desert map is now available in PUBG Mobile while the update also adds a handful of other features as well.

Agree Realty Corporation (NYSE:ADC) Has Decline in Shorts
The earnings growth rate for the next years is an important measure for investors planning to hold onto a stock for several years. It represents a security's price that, if achieved, results in a trader recognizing the best possible outcome for his investment.

James Ransone, Andy Bean join cast of 'It: Chapter Two'
The first installment of the film was a massive hit, grossing $700 million worldwide including $327 at the USA box office. Jack Dylan Grazer played young Eddie in the first movie.

Jurgen Klopp: Liverpool deserved 'crazy ride' to final
Liverpool manager Jurgen Klopp admits their run to the Champions League final has been a "crazy ride" but is well deserved. To summarise, it's been a insane ride. "But, after all, we've earned our place here".

SEC Launches Fake ICO to Educate People on Fraud
The SEC's spoof ICO launch, HoweyCoins website breaks down the red flags of fraudulent fundraising to educate potential victims. HoweyCoins says it combines the "blockchain and travel" to offer ICO participants massive discounts on travel expenses.

Baby joy for the Lampards
Everyone seems to be fascinated by my body clock. "She looks a bit of a sort", which I think is East End for "She's attractive". The Loose Woman presenter took to Instagram to reveal the good news. "The Lampard family are expanding", she wrote.

Martinez, Bogaerts power Red Sox past A's
Piscotty was batting eighth and starting in right field for Tuesday night's game at Boston , which was delayed by rain. This comes less than one day after Cavaliers coach Tyronn Lue said the Celtics are "gooning the game up", per Martinez.

'Strong Tehran means strong Ankara': Turkey vows to maintain trade with Iran
Turkish presidential elections are set to take place on June 24, with incumbent Erdogan the favourite to win . He cited British-Turkish cooperation in defence industries as an example for more new ventures.

'Ride Of Silence' Brings Cyclist Awareness To Mansfield
The ride, with police escort, starts at 6:30 p.m.at a memorial bench placed at Waterfront Park in Nickell's honor. She was one of dozens of cyclists who participated in the annual Ride of Silence on May 16th.

Other news