Mothercare to speed up transformation plans

Mothercare is set to shut 60 stores by this time next year, instead of the 50 previously announced. The move will put 900 jobs at risk. 

In May, Essential Retail reported that Mothercare had become the latest retailer to green light a company voluntary agreement (CVA), following the likes of New LookCarpetright and Toys R Us UK down this route.

In a surprise move, it also reappointed Mark Newton-Jones, the chief executive who was sacked earlier this year after a big fall in sales over the Christmas trading period and a profits warning. The decision to show him the door had been made under the watch of chairman Alan Parker, who subsequently stepped down.

Newton-Jones told the BBC's Today programme that the UK business "hadn't had a lick of paint" in recent years. "We will really be able to speed up the transformation, and by God we need to speed up the transformation, because the retail landscape is pretty brutal at the moment,” he said.

He added that there had been prolific growth outside the UK, with two-thirds of turnover now coming from overseas. The extra store closures will mainly come from its Childrens World division, which will go into administration. 

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