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Mothercare pushed into loss by UK business
Published: 24th May 2012 07:33:14
Babywear retailer Mothercare has reported a hefty annual loss as the retailer takes steps to turn around the fortunes of its struggling UK business.
Losses for the year to 31 March were £102.9m, compared with a profit of £8.8m the year before.
The loss came after Mothercare wrote down the value of assets and took charges related to UK store closures.
Mothercare currently has 311 UK stores, but earlier this year it said it would cut this number to 200 by March 2015.
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BBC News, 2012. Mothercare pushed into loss by UK business. [Online] (Updated 24 May 2012)Available at: http://www.manchesterwired.co.uk/news.php/1430589-Mothercare-pushed-into-loss-by-UK-business [Accessed 20th June 2013]
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