Mothercare comes out with brand boost plans
Losses at Mothercare have widened on the back of a drastic restructuring plan, but the company said it will now focus on rebuilding its brand.
Headline losses before tax came to £ 87.3 million for the 53 weeks to 30 March, compared with £ 72.8m this time last year.
Losses were deepened by the retailer’s store closure plan, which was agreed last year under a company voluntary arrangement.
Mothercare said the programme had been completed ahead of schedule, reducing its UK estate from 134 stores to 79.
Chief executive Mark Newt o n- Jo nes s a i d: “We have achieved a huge amount this year, refinancing, restructuring and reorganising Mothercare to ensure a sustainable future for the business.
“The n e x t p h a s e o f o u r s t r a t e g i c t r a n s f o r mat i o n plan is to develop Mothercare as a global brand, maximising t he o p p o r t uni t i e s we s e e across many i nternational markets.”