Mothercare eyes new funding as interim boss stands down

Mothercare is attempting to better integrate digital with its physical stores

Mothercare is in discussion with a number of prospective lenders over new funding as its interim chief executive steps down.

The embattled retailer, which appointed administrators for its UK business in early November 2019, said that it “remained in discussions with a number of prospective new debt providers” about refinancing the business.

The group has been trying to leverage new finances all year, having raised £8.7m from investors and agreed £20m worth of new equity with Numis in January.

Refinancing talks may be hamstrung, however, by the news that interim chief executive Glyn Hughes has stepped away from the business.

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