Mothercare's UK business to go into administration with 2,500 jobs at risk; international business still profitable

📆 2019-11-04 9:34 AM
📰 The Straits Times

⏱ Reading Time:
20 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

LONDON (REUTERS) - Struggling baby products retailer Mothercare is set to appoint administrators to its loss-making British business, putting about 2,500 jobs at risk and dealing yet another blow to the country's beleaguered retail sector.. Read more at straitstimes.com.

LONDON - Struggling baby products retailer Mothercare is set to appoint administrators to its loss-making British business, putting about 2,500 jobs at risk and dealing yet another blow to the country's beleaguered retail sector.

The group also has a profitable international business, with over 1,000 stores in over 40 territories. "Furthermore, the company is unable to continue to satisfy the ongoing cash needs of Mothercare UK," it said. Notices of intent to appoint administrators give companies protection from creditors for 10 days before potentially tipping them into administration.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong: Stocks end sharply higher[HONG KONG] Hong Kong stocks started the week with stiff gains Monday, following a strong US jobs report, with buying also supported by optimism over the China-US trade talks. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »