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Mothercare appoints Rothschild

Mothercare has reportedly appointed investment bank Rothschild to explore new financing options, as its seeks a rescue deal.

The struggling retailer is seeking financing outside its current lenders, The Sunday Telegraph reports.

Accountancy firm KPMG is already handling separate discussions with HSBC and Barclays over Mothercare’s existing debt.

Worldwide sales at Mothercare fell 4.8% for the full year to 24 March 2018. Like-for-like sales in the UK dropped 1.3% for the year, and total UK sales fell by 4.8%. International sales on a constant-currency basis fell by 5.8%.

 

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