|
Re: House of Fraser in trouble...
Quote:
Quote from The Independent:
Mothercare is to axe 50 stores, resulting in hundreds of job losses, in the latest blow for the high street.
In a move that will stun many observers, the company has also rehired its chief executive, Mark Newton-Jones, who was given the elbow last month.
The closures are part of a restructuring plan and will be carried out through a company voluntary arrangement (CVA), allowing the firm to shut loss-making shops and secure rental discounts.
Mothercare employs about 3,000 staff across 137 outlets.
As part of the restructuring, the baby clothing retailer also announced a refinancing package worth up to £113.5m.
|
No great shock there, we knew something like this was coming.
__________________
History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
|