Mothercare places Children’s World into administration
Mothercare has insisted it is making “good progress” with its refinancing and restructuring plans – but has placed its Children’s World business into administration.
The embattled retailer said it had received no legal challenges to the CVA proposals for both its Mothercare and Early Learning Centre arms.
It added that the £32.5m capital raising through an equity issue was expected to be completed on July 27. The cash will help Mothercare fund its restructuring plans, which will see it shutter 60 UK stores.
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