Mothercare is to close 50 stores with the potential loss of at least 800 jobs and is rehiring its former chief executive who was sacked only last month under a rescue plan designed to secure the future of the struggling baby goods and maternity retailer.
The group said Mark Newton-Jones, who was ousted in April, would now be returning to lead the business. His departure came after Mothercare admitted it was in financial difficulties as poor trading put it at risk of breaching the terms of its loans.
The group said it was on course to secure £113.5m in new funds to support the business. It plans to raise £28m from shareholders by issuing …
Read the full article at: https://www.theguardian.com/business/2018/may/17/mothercare-to-close-50-outlets-and-reinstate-ousted-ceo