By Richard Hook2018-07-09T12:31:00
Struggling retailer Mothercare has announced plans to close ten further stores as part of a proposed restructuring and company voluntary arrangement (CVA).
The company has now said it will close 60 stores by June 2019, up from 50 previously earmarked in CVA proposals agreed in June. This will leave it with 77 stores across the whole of the UK by next summer, with 19 of those stores on reduced rent.
The company has not yet given details about which stores will close although the majority come from the Children’s World chain it owns. The Children’s World subsidiary has been placed into administration, which will result in the transfer of 13 of its 22 stores to other Mothercare group companies to continue trading.
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