Mothercare UK to appoint administrators for failing chain, signalling a risk to nearly 2,000 jobs
Britain's children and baby products retailer Mothercare said on Monday it was putting its loss-making UK business into administration at a risk of more than 2,000 jobs.Mothercare in March reported making a profit of $36.6 million from more than 1,000 stores it has worldwide.The company said it has been holding fruitless talks with partners about its struggling domestic operations since May 2018. It already closed 55 stores last year.
"Furthermore, the company is unable to continue to satisfy the ongoing cash needs of Mothercare UK." The company stressed that its British operations "will be free to continue to trade in the normal course of business" and made no reference to future jobs.
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