News Another one bites the dust - Mothercare closure of 47 stores

Discussion in 'Business News & Resources' started by Cody, Apr 9, 2018.

  1. Cody

    Cody

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    What is happening to the retail sector recently? Is it an issue of retailers not changing and adapting to current ever-changing trends? Most likely.

    Mothercare is looking at the possibility of filing for a company voluntary arrangement, which could see the chain close nearly up to 50 stores out of it's 140+ stores across the UK as a means of reducing costs and paying off any debts.

    The chain last month called in KPMG (a global network that provides audits, tax and advisory services) to assess their options in this struggling market as they have reported massive losses of around £700,000 over the last year, with debts of around £50million, increased from £38m.

    Other retailers that have opted for a CVA include the likes of New Look and Select, with many others weighing up their options also.

    How long before we see all of our once loved retailers gone from the high street?

    I've been saying for quite some time that in this struggling market you need to adapt and change the way you work and do business. Read why the likes of Toys 'R' Us and other retailers are failing.
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