Mothercare has been given the green light to swing the axe on 50 underperforming stores in a move that will see 800 jobs put at risk.
The store closures will be carried out through a company voluntary arrangement (CVA) – a move which allows companies to close loss-making shops and secure rental discounts.
On Friday Mothercare said it had received the backing of creditors, including its landlords, to press ahead with a CVA.
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Including:
Prima, Real Living and Cantay Estates have received funding for 189-bed PBSA
Katy Davis named as an equity partner at the firm
The site will be turned into 261 short stay serviced bedrooms
Rising remote and video appeals offer an opportunity to reduce space
