The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Other Goods In Specialised Stores 47.71 - Retail sale of clothing in specialised stores
900 jobs Number of planned job losses
Announcement Date
1 June 2018
Employment effect (start)
Foreseen end date
30 June 2019
Description
Babywear retailer Mothercare has confirmed that it has secured support from creditors for a company voluntary arrangement (CVA), allowing the company to shut some outlets and reduce rents on others. CVAs have become increasingly common and Mothercare is the latest of a series of high profile high street retailers to enter into such an arrangement. Under the plans, 50 stores will close with the loss of 800 jobs. All 50 stores are expected to be closed by June 2019, though the exact timeframe has yet to be confirmed.
UPDATE 09/07/2018: Mothercare has confirmed that it will be cutting 900 jobs, 100 more than first reported. The terms of the CVA mean that 60 of the 137 stores will close, rather than 50 as previously stated. Mothercare's Children's World subsidiary has also entered administration.
Sources
1 June 2018: The Guardian
1 June 2018: BBC Website
9 July 2018: The Guardian
Citation
Eurofound (2018), Mothercare, Internal restructuring in United Kingdom, factsheet number 94414, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94414.
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