Encomium
British retailer, Mothercare, is planning to close more stores in the United Kingdom (UK) as it steps up efforts to fund the revamp of the company through a £100 m rights issue.
The loss-making retailer of clothes and other goods for parents and young children said it wants to bring the business into the digital age as well as reduce its debt burden.
Its new boss, Mr Mark Newton-Jones (who took over earlier this year as the company’s attempts to fight off competition faltered under former head Simon Calver), has said he aims to create a digitally-led business, supported by a modern store estate, while insisting that the chain has a future in the UK.
