Mothercare finalises pension deal as UK business nears collapse

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Mothercare and its pension trustees are in talks to plug a £139m deficit as its UK business nears collapse, Sky News learns.

At its last actuarial valuation in 2017, Mothercare's pension schemes had a deficit of £139m - or almost four times the market capitalisation of the entire company at Monday's closing share price.

Last year, the company's management, led by chairman Clive Whiley and chief executive Mark Newton-Jones, secured a deal with creditors that involved the closure of more than 50 stores. Mothercare has been steadily transforming itself into an international franchising group, and now trades from roughly 1,000 stores in more than 40 countries.

Mothercare raised £32.5m from investors last year from the sale of new shares, but now has a market value of less than that figure after its shares fell by a quarter on Monday.

 

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Belgique Dernières Nouvelles, Belgique Actualités