Green light for Mothercare CVA

Mothercare has been given the green light to swing the axe on 50 underperforming stores in a move that will see 800 jobs put at risk.

The closures will be carried out through a company voluntary arrangement – a move which allows companies to close loss-making shops and secure rental discounts. It has received the backing of creditors, including its landlords, to press ahead with the CVA.