MOTHERCARE

is set to announce a 95pc fall in profits from £19.7m to just £1m, City analysts predict.

Chief executive David Wood, who replaced Mark NewtonJones just weeks ago, is expected to announce more store closures alongside annual results on Thursday as the chain battles to survive on the High Street.

It comes as budget retailer Poundworld, which has about 355 shops, has reportedly been put up for sale by its private equity backer TPG.