Chief executive will provide further details on Thursday
Struggling retailer Mothercare confirmed to media today that it would ask investors for fresh funds as part of a major restructuring it plans to announce later this week.
“We are in the final stages of detailing these restructuring plans alongside new committed debt facilities, an underwritten equity issue and access to other sources of capital,” it said.
Chief executive David Wood will provide further details on Thursday alongside the group’s full-year results.
Mothercare has seen sales and profit hammered by intense competition from supermarket groups and online retailers. It had started shutting stores four year ago and has reduced its UK portfolio from 220 to 137