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Mothercare to shut 50 stores under CVA

London - Mothercare is set to shut approximately 50 of its 137 UK stores by June next year, as its Company Voluntary Arrangement (CVA) proposals are approved. The move could see up to 800 jobs lost as landlords give the maternity specialist's financial rescue package the green light. Mothercare's CVA receives greenlight from creditors The news...

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Mothercare reports 88 percent dive in profits following CVA

Mothercare plc revealed the exact extend of its financial struggles in its annual report, a few hours after the maternity and babywear specialist confirmed its had filed for Company Voluntary arrangement, with plans to shut 50 store and cut 800 jobs to keep the business going. Although the retailer reported positive results for the first six...

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Prada’s FY15 profits struck by Asian slowdown

Luxury Italian conglomerate Prada SpA has seen its profits take a hit once more, as the slowdown in demand in Asia - particularly China - struck its profits for its fiscal year 2015. The group has reported its lowest profit in five years, as pressure on Chief Executive Officer Patrizio Bertelli to turnaround things for the company’s luxury...