It looks like there could be big change ahead at struggling retailer Mothercare. The company's recovery isn’t happening as fast as it had expected and it seems that its UK business is moving to a franchise model
Philip Green’s fashion empire Arcadia Group on Tuesday said it received applications from legal entities of U.S.-based property group Vornado challenging two of its seven planned Company Voluntary Agreements (CVAs).
Mothercare has reported more weak results but the mother-and-baby products retailer talked of progress and its focus on rebuilding itself as a global brand with a bigger move into digital and more exclusive products.
Mothercare on Thursday released a trading update and hailed the “significant strategic progress” it has made so far. Its turnaround continues and expectations for full-year profit remain in line with analyst forecasts.
The embattled UK retail industry was dealt another blow on Friday after news emerged that Arcadia is considering a restructuring process which could result in significant store closures and job losses.
Bullring owner Hammerson is trying to offload over £900m of property, including a number of retail parks in the UK, after seeing the retail crisis send the value of its portfolio down by almost 6% in 2018.