He has been succeeded by David Wood, previously president of Kmart Holdings, a $3bn grocery, retail and pharmaceutical business in the US. We’ve got to move on from here.”He added: “Mothercare is a great brand with a great future, but it is facing a number of challenges, not least a highly competitive retail environment. We need to unpick why we’re not performing as we’d like to be.”Last month Mothercare revealed it was in financial straits as poor trading put it at risk of breaching the terms of its loans. He added: “My immediate focus is to ensure Mothercare is put back on a sound financial footing and deliver a successful plan to improve performance. Toys R Us and Maplin collapsed into administration in February, while Carpetright issued its third profit warning in four months.

Source: The Guardian April 04, 2018 10:27 UTC