Mothercare rescue package will see 50 stores closed
Mothercare has announced a rescue plan that will see 50 of its stores closed.
Details of the Company Voluntary Agreement (CVA) drawn up in a bid to keep the troubled retailer afloat have been made public.
Under the proposals the firm’s 134 stores 64 will be carry on trading and pay their current rental rates, 21 will pay rent at 50% for three years and 49 will pay rents at 35% of the current levels for the next 12 months.
No formal announcement has been made on which stores will go but a leaked memo appearing to list the th... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
