By Helen Crane2018-05-17T10:50:00
Maternity and baby product retailer Mothercare has announced plans to close 50 stores in an attempt to turn around its “perilous” financial position.
It has launched a company voluntary arrangement (CVA) proposal for several of the entities within the Mothercare group, which creditors will vote on on 1 June.
Under the plan it will seek to close 50 of its 137 UK stores by 2020, and ask for rent reductions on a further 21.
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