LONDON - Struggling baby products retailer Mothercare is set to appoint administrators to its loss-making British business, putting about 2,500 jobs at risk and dealing yet another blow to the country's beleaguered retail sector.
The group also has a profitable international business, with over 1,000 stores in over 40 territories. "Furthermore, the company is unable to continue to satisfy the ongoing cash needs of Mothercare UK," it said. Notices of intent to appoint administrators give companies protection from creditors for 10 days before potentially tipping them into administration.
Source: News Formal (newsformal.com)
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