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Further Mothercare store closures on the way?

Retailer is latest to look at reducing costs by entering a Company Voluntary Arrangement.

Latest reports have put Mothercare as the next retailer to be considering a Company Voluntary Arrangement.

The baby and preschool retailer – which has a number of successful licensed collaborations in its portfolio – would look to close around 47 of its 143 stores if a CVA is agreed with lenders, according to reports.

This would see Mothercare follow in the footsteps of retailers including New Look which has already agreed a CVA to reduce costs.

Last week, Mothercare confirmed that its chief executive Mark Newton-Jones had resigned, with the board reportedly not happy with the progress made with his turnaround strategy.

David Wood – former Tesco and Kmart executive – has stepped into the role, taking charge of the turnaround plans.

It was also reported last week that Sainsbury’s had considered acquiring Mothercare but ultimately decided against making an offer.

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