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Mothercare implements “reboot” plan

by LLB Editor
23rd Jan 20 7:59 am

Baby goods retailer Mothercare shut down all its 79 UK stores earlier this month, but it’s still carrying on as “a profitable international franchise operation” and “rebooting” its business model.

At least, that’s the message from its latest “Transformation Plan Update”, which says that since Mothercare UK went into administration, there has been “a substantial reduction in the bank debt of the group”.

Mothercare has now raised £8.7m in fresh funds from existing investors and continues to operate on an “asset-light” basis in more than 40 international territories. In the UK, the brand is being licensed to Boots and a five-year contract is being drawn up.

But there are changes at the top, with Mark Newton-Jones stepping down immediately as chief executive, to be replaced on an interim basis by current chief financial officer Glyn Hughes.

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