LONDON, Nov 4 (Reuters) - Struggling baby products retailer
Mothercare has filed a notice of intent to appoint
administrators to its loss-making British business, putting
hundreds of jobs at risk and dealing another blow to the
country's troubled retail sector.
Mothercare's sales have been hammered by intense competition
from supermarket groups and online retailers in its main British
market as well as by rising costs. It also has a major overseas
operation.
The group said notices to appoint administrators to its
trading subsidiary, Mothercare UK Limited and to Mothercare
Business Services, which provides services to Mothercare UK,
will be filed with the court on Monday.
Notices of intent to appoint administrators give companies
protection from creditors for ten days before potentially
tipping into them into administration.
Mothercare said the company and its other subsidiaries were
not covered by these notices and it will be free to continue to
trade in the normal course of business.
(Reporting by James Davey; editing by Kate Holton)
Mothercare (MTC)
