MOTHERCARE DUMPED

FUND managers are abandoning ailing Mothercare amid escalating fears for the future of the retailer.

Shares are down 71pc since the start of the year, from around 65p to 19p, after it warned on profits, and has opened crunch talks with lenders. It has also been hit by nervousness in the sector following the collapse of Toys R US and Maplin. Funds, including Standard Life Aberdeen, Legal & General and UBS have all cut stakes, according to data analysed by Citywire.

Mothercare’s boss Mark Newton-Jones, 49, is trying to turn the business around.