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Stelios Haji-Ioannou Announces the Launch of the 10th Stelios Bi-Communal Awards in Cyprus

Menelaou: Turkey Continues To Violate UN Resolutions in Cyprus

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INTERNATIONAL

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Mothercare to Present New Business Comprehensive Restructuring Plan

Mothercare to Present New Business Comprehensive Restructuring Plan

Mothercare, the struggling British mother and baby products retailer, said on Monday 14 May it was finalising a “comprehensive restructuring” of its business that would involve new debt facilities and an equity fund raising.

The firm, which has been hit hard by intense competition from supermarket groups and online retailers in its main UK market, said details of its plan would be announced on Thursday 17 May along with results for the 2017-18 year. Its statement followed a report in The Telegraph newspaper which said Mothercare was expected to unveil plans for a company voluntary arrangement (CVA) that would enable it to shut stores and secure rent reductions on others.

Shares in the group were down 7 percent on Monday, Reuters reports.

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