Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2018), Mothercare, Closure in United Kingdom, factsheet number 94414, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94414.
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