Mothercare is to close all of its 79 UK stores and its online business with the potential loss of 2,800 jobs after calling in administrators from PricewaterhouseCoopers on Tuesday. The administration will not include Mothercare’s profitable overseas operations, which have more than 1,000 stores in more than 40 countries – all run via franchise agreements.
Mothercare is to appoint administrators to its UK high street chain, putting 2,500 jobs at risk. The baby and maternity retailer said it had become clear its 79-shop UK chain, which lost £36.3m last year, would not return to profitability and that it had failed to find a buyer for the business. The shops will
“The construction sector’s distressing decline continued in October in spite of a small improvement in the headline index as a resolution to the political impasse seemed close. However with a fall in civil engineering not seen for a decade and the biggest drop in housebuilding since 2016, it appears that strength in the sector is
Mike Ashley spent millions of pounds on flights by helicopter and private jet as his company’s annual profit fell 80%, the latest accounts show. The Sports Direct owner’s family also received more than £100,000 of hospitality at Newcastle United, Ashley’s football club. Ashley’s spending was revealed in the annual accounts for Mash Holdings, through which
Britain’s biggest retailers have been ramping up their stockpiling efforts to record levels in the run-up to Brexit, according to the Confederation of British Industry. The country’s leading business lobby group said retailers’ stock levels compared with the volume of expected sales had risen to the highest point in October since it began compiling retail
Mike Ashley has stepped up his campaign for an investigation into the collapse of Debenhams, claiming MPs are more interested in their own PR than rooting out corporate wrongdoing. In a two-page letter to the MP Rachel Reeves, seen by the Guardian, the Sports Direct chief executive wrote: “No one in parliament seems sufficiently interested