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Mothercare hires Rothschild to help secure financing

By Vivian Hendriksz

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Mothercare has sped up its ongoing search for emergency funding to ensure it has a rescue plan in place before it releases its full-year results in May.

The struggling maternitywear and babywear specialist is understood to have hired investment bank, Rothschild, to explore alternative financing options outside of its current lenders according to a report from The Sunday Telegraph.

The move comes after Mothercare tapped accountancy firm KPMG to handle separate discussions with HSBC and Barclays concerning its existing debt. Talks with its current lenders are said to have been "constructive." Mothercare aims to secure new funding before May 17, when it publishes its full-year financial results.

Mothercare made headlines last month after it named industry veteran David Wood as its new CEO and speculation emerged it iwas investigation a potential company voluntary arrangement (CVA).

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