We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Nov 24, 20207:33am

Mothercare hires Kpmg to assess options for its UK business

The British childrenswear company is being advised by the consultant to implement a contingency plan that could include entering into a new voluntary agreement with creditors (CVA).

Oct 28, 2019 — 6:39pm
Mds
Save

Mothercare hires Kpmg to assess options for its UK business

 

 

Mothercare continues to take steps in its restructuring. The British childrenswear company has hired the consultant Kpmg to work on a contingency plan that could include Mothercare’s entry into a second voluntary agreement with creditors(CVA), according to The Times.

 

Mark Newton Jones, chief executive officer of the children’s fashion group, explained that the company is considering changing its operating model in the United Kingdom to launch a franchise model.

 

In May 2018, the company filed for a voluntary agreement with creditors to “return to a more stable scenario, accelerate the transformation of the group and drive it towards a viable and sustainable future”.

 

In the first quarter, the company’s sales dropped by 4.5%. In the United Kingdom, the down was 23.2%. At the end of the period, the company had a commercial network of 79 stores, compared to 134 in the previous year.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...