Jul 9, 2018
Mothercare seeks to raise £32.5m in restructuring
Baby paraphernalia retailer Mothercare is seeking to raise £32.5m from existing shareholders in the latest stage of its battle to adjust to a challenging UK high street. After a very challenging period for our business, we have now finalised arrangements to restructure and refinance the Group, ensuring that the transformation of the Mothercare brand we started four years ago can now be completed. Mothercare is a great British brand with over 50 years of heritage and we now have the financing in place to take it forward for many more years to come. The restructuring will help generate £10m in savings per year, the company said. It is seeking to find another £9m of annual savings through a "Root and branch review of every facet of the Mothercare business".
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