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mothercare news and archive

People

Former Mothercare CEO steps down as executive director

Former Mothercare CEO Mark Newton-Jones has stepped down as an executive director. He will continue to serve as a non-executive director, subject to his re-election at the company’s next annual general meeting. Chairman Clive Whiley commented in a statement: “I would like to thank Mark for his contribution to the business over what has proved to...

27 Jul 2020

Business

Mothercare downsizes HQ as part of ongoing restructuring

Mothercare has announced it is downsizing its headquarters and is seeking new funding amid its ongoing restructuring. The maternity and babywear specialist also said it has a shortlist for potential replacements for interim CEO Glyn Hughes, who has ruled himself out of the permanent position. He will exit on 30 June. The UK retail business of...

22 Jun 2020

Business

Mothercare making ‘significant progress’ with transformation, but feels Covid-19 impact

Mothercare has announced that it has made “significant progress” with its ongoing transformation strategy but has been directly impacted by Covid-19. At the end of last year, the maternity and babywear specialist announced plans to transform the business and generate revenues through an asset-light model, operating in over 40 international...

30 Mar 2020

Business

Rise in companies falling into administration in 2019

Store closures and companies falling into administration increased by just under 5 percent over 2019, according to new analysis from KPMG. A study of notices in the London Gazette shows that a total of 1,403 companies went into administration during 2019, compared to 1,341 in the previous year. The rise was driven by a spike in insolvencies in...

12 Feb 2020

People

Mothercare CEO steps down, board reshuffled amid transformation plan

Mothercare has announced that its CEO Mark Newton-Jones is stepping down from his position, as well as a number of other changes to its leadership team, in an update of the company’s ongoing transformation plan announced in November. The maternity and babywear specialist said that Newton-Jones will remain as an executive director until July 2020...

23 Jan 2020

Business

Mothercare half-year sales fall during 'extraordinarily challenging period'

Mothercare has reported falling sales for the first-half of the year as the British retailer continues to face an “extraordinarily challenging period”. Loss before tax at the maternity and babywear specialist rose to 21.2 million pounds in the six months to the end of October, up from 18.5 million pounds in the same period last year, as net debt...

10 Dec 2019

Retail

What went wrong at Mothercare?

In times of crisis and cutbacks people are thought to spend money on necessities and what is dear to them, including their children and pets. During a recession it is inevitable folks will shop less and with greater frugality, but the first extra’s to go are their own. It’s a simple analogy to state children’s wear businesses can prosper in...

6 Nov 2019

Business

Mothercare's UK business falls into administration

As announced by the company earlier, baby products retailer Mothercare plc has appointed Zelf Hussain, Toby Banfield, and David Baxendale of PricewaterhouseCoopers LLP as administrators to Mothercare UK and Mothercare Business Services Limited (MBS), with effect from November 5, 2019. Commenting on the development, Clive Whiley, Chairman of...

6 Nov 2019

Business

Mothercare to appoint administrators for UK business

Struggling baby products retailer Mothercare plc is set to appoint administrators putting several jobs at risk. The company announced through a statement that notices of intent to appoint administrators to Mothercare UK and Mothercare Business Services (MBS), which provides certain services to Mothercare UK, are being filed with the court today....

4 Nov 2019

Business

Mothercare calls in restructuring experts from KPMG

Maternity and babywear specialist Mothercare has called in advisors from accountancy firm KPMG to discuss options for the company, a move that raises concerns for the future of 2,500 employees across 79 stores. A Mothercare spokesperson said: “Our immediate priority is to complete the transformation of the business with a near-term focus on...

28 Oct 2019

Business

Mothercare sales continue to suffer amid challenging UK market

Mothercare plc, for the 15-week period to July 13, 2019 said, online sales were impacted by the extensive store closure programme and the loss of iPad sales in those stores, leading to an overall reduction in on-line sales of 12.1 percent, while total UK sales were 23.2 percent lower than last year. International retail sales declined 4.5...

26 Jul 2019

Business

Full year losses widen at Mothercare

Mothercare plc, for its 53 week period to March 30, 2019, said total group adjusted loss including discontinued operations before taxation and foreign currency revaluations of was 11.6 million pounds (14.7 million dollars) compared to 2.3 million pounds in 2018, with statutory loss before tax of 87.3 million pounds (110.6 million dollars)...

24 May 2019