Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMothercare Share News (MTC)

Share Price Information for Mothercare (MTC)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 4.40
Bid: 4.40
Ask: 5.00
Change: 0.05 (1.08%)
Spread: 0.60 (13.636%)
Open: 4.42
High: 4.42
Low: 4.40
Prev. Close: 4.65
MTC Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

TOP NEWS: Mothercare To Appoint Administrators For UK Retail Business

Mon, 04th Nov 2019 08:46

(Alliance News) - Embattled baby products retailer Mothercare PLC on Monday said it intends to appoint administrators for its domestic UK retail business, as part of a major restructuring programme.

"Through this process, it has become clear that the UK retail operations of the group, which today includes 79 stores, are not capable of returning to a level of structural profitability and returns that are sustainable for the group as it currently stands and/or attractive enough for a third party partner to operate on an arm's length basis. Furthermore, the company is unable to continue to satisfy the ongoing cash needs of Mothercare UK," the parent company explained.

Mothercare shares in London were trading 22% lower at 8.84 pence each in early trade on Monday, valuing the company at GBP30.6 million. Year-to-date shares have lost 41% in value.

The company intends to file court notices to appoint administrators for its subsidiaries Mothercare UK Ltd and Mothercare Business Services Ltd, which provides certain services to Mothercare UK.

"These notices of intent to appoint administrators in respect of Mothercare UK and MBS are a necessary step in the restructuring and refinancing of the group. Plans are well advanced and being finalised for execution imminently," Mothercare said.

The retailer, however, emphasised that other business units remain unaffected by the move and that the company along with Mothercare UK and Mothercare Business Services continue to trade as normal.

Following the restructuring, the company plans to focus on its global brand franchise business which generates over GBP500 million in revenue per year from over 1,000 international stores in over 40 territories. In the year ended March 31, the international business generated a profit of GBP28.3 million whereas the UK retail operations posted a GBP36.3 million loss.

Mothercare joins the long-list of retailers who have embarked on a major restructuring programme and have filed for administration as Brexit economic uncertainty and cut throat competition hurts consumer spending. Major retailer who have filed for administration include Debenhams, Bonmarche, Thomas Cook and Karen Millen.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
22 Nov 2018 10:27

Mothercare Shares Drop As Sales Continue To Slump Amid Restructuring

LONDON (Alliance News) - Mothercare PLC shares dropped on Thursday as the retailer's sales continued to fall in the first half despite an ongoing restructuring programme.Shares in the a

Read more
22 Nov 2018 10:06

Mothercare blames negative press coverage as losses widen

(Sharecast News) - Loses at Mothercare widened in the first half as the mother and child retailer said negative press coverage had hit sales in the UK, although the international business was showing signs of recovery.

Read more
25 Oct 2018 09:19

AG Barr Appoints Former Superdry CFO Nicholas Wharton As Non Executive

LONDON (Alliance News) - Soft drink company AG Barr PLC said Thursday it appointed Nicholas Wharton as independent non-executive director with effect from start of November.Wharton was of a

Read more
16 Oct 2018 16:36

Accessories Retailer Claire's Calls Advisers To Explore Store Closures

LONDON (Alliance News) - Claire's is considering a raft of British store closures as the troubled fashion accessories chain becomes the latest high street firm to show signs of Press can that

Read more
12 Oct 2018 14:33

UK High Street Retailers In 2018 - The Bad, The Ugly And The Insolvent

LONDON (Alliance News) - Evidence of the challenges facing the UK high street retailer this year continued to accumulate in the first two weeks of October, with new figures showing in-store sales

Read more
31 Aug 2018 14:22

Homebase To Shut Another 42 Stores As High Street Misery Continues

LONDON (Alliance News) - Homebase has been given the green light to press ahead with a wave of store closures that will see 42 DIY outlets shut, putting around 1,500 jobs at risk.The is the

Read more
10 Aug 2018 13:19

Hammond Hints At Online Tax Change As High Street Firms Continue To Suffer

LONDON (Alliance News) - Philip Hammond has hinted at possible tax changes to ensure high street retailers are able to compete with online rivals, hours after House of Fraser was rescued in a want

Read more
26 Jul 2018 11:19

Mothercare Raises GBP33 Million Via Placing And Open Offer (ALLISS)

LONDON (Alliance News) - Mothercare PLC said Thursday it raised GBP32.5 million via a placing and open offer of 170.9 million shares at 19.0 pence each.Shares in Mothercare were down 1.5% a

Read more
9 Jul 2018 17:01

LONDON MARKET CLOSE: Pound Plummets As May Loses Two Cabinet Members

LONDON (Alliance News) - The FTSE 100's gains accelerated as the session progressed on Monday, the dollar-earner heavy index boosted as the pound tumbled on the resignation of UK Foreign Boris 24

Read more
9 Jul 2018 11:57

LONDON MARKET MIDDAY: Stocks Climb; Pound Higher After Davis Quits

LONDON (Alliance News) - Stocks in London were higher on Monday, brushing off last week's US-China tariffs, while the pound rose after the UK's Brexit secretary resigned from his role.The 100

Read more
9 Jul 2018 09:01

REPEAT: Mothercare To Shut Down 60 Stores Under Final CVA Deal

LONDON (Alliance News) - Shares in Mothercare PLC dropped on Monday after it declared its company voluntary arrangement (CVA) proposal effective, as no challenges have been made or filed with the

Read more
9 Jul 2018 08:52

TOP NEWS: Mothercare To Shut Down 60 Stores Under Final CVA Deal

LONDON (Alliance News) - Shares in Mothercare PLC dropped on Monday after it declared its company voluntary arrangement (CVA) proposal effective, as no challenges have been made or filed with the

Read more
9 Jul 2018 07:47

LONDON MARKET PRE-OPEN: Pound Higher After David Davis Resignation

LONDON (Alliance News) - Stock prices in London are seen opening in the green on Monday, as the pound increased slightly after David Davis resigned as UK Brexit Secretary. IG futures indicate the 100

Read more
5 Jul 2018 16:02

UK Shareholder Meetings Calendar - Next 7 Days

Friday 6 JulyValue & Income TrustCapital Gearing TrustStobart GroupMonday

Read more
29 Jun 2018 15:24

Homebase Explores Further Store Closures, Hundred Of Jobs In Doubt

LONDON (Alliance News) - Homebase is exploring a second wave of store closures that could see up to 40 DIY outlets shut, putting hundreds more retail jobs at risk.The DIY chain is sounding

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.