{"id":11780,"date":"2019-11-04T17:20:11","date_gmt":"2019-11-04T12:20:11","guid":{"rendered":"http:\/\/umang.pk\/2019\/11\/mothercare-puts-british-stores-into-administration\/"},"modified":"2019-11-04T17:20:11","modified_gmt":"2019-11-04T12:20:11","slug":"mothercare-puts-british-stores-into-administration","status":"publish","type":"post","link":"https:\/\/umang.pk\/ur\/2019\/11\/04\/mothercare-puts-british-stores-into-administration\/","title":{"rendered":"Mothercare puts British stores into administration"},"content":{"rendered":"
\n

Fast news<\/p>\n

\n
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Mothercare director of UK children and infant supplies retailer puts more than 2,000 jobs at risk. 79 UK stores of 58-year-old global brands have been shedding cash for years.<\/h3>\n<\/p><\/div>\n
\n \"Mothercare's
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Mothercare's 79 stores in the UK lost $ 46.9 million last year.
\n(Tolga Accen \/ AP)
\n <\/figcaption><\/figure>\n

Mothercare, a UK-based retailer for children's and infant goods, said Monday it puts more than 2,000 jobs at risk in the UK business that is causing losses in the UK.<\/p>\n

79 UK stores of 58-year-old global brands have been shedding cash for years.<\/p>\n

In March, Mothercare reported revenues of $ 366 million (28.28 million pounds, \u20ac 32.8 million) in more than 1,000 stores worldwide.<\/p>\n

The UK's sales lost \u00a3 36.3 million in the same fiscal year.<\/p>\n

The company said it has been having fruitless conversations with its partners on domestic projects that are struggling since May 2018. It has already closed 55 stores last year. <\/p>\n

Mothercare said, "(UK stores) has now become unable to return to a sustainable level of structural profitability and profits for the group because the group currently owns or is attractive enough to third party partners." statement.<\/p>\n

"In addition, the company cannot continue to meet Mothercare UK's ongoing cash needs." <\/p>\n

Mothercare's stock fell 29{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in the morning trading at 8.01 pence.<\/p>\n

The company stressed that its operations in the UK would "be free to trade in the normal business process" and did not comment on future jobs. <\/p>\n

Financial analysts blamed Mothercare's problems with the slow development of online operations and failed marketing campaigns.<\/p>\n

Competition with large UK retailers and online conglomerates such as Amazon forced several historic British brands to close their stores.<\/p>\n

Uncertainty over the Brexit crisis has hampered restructuring efforts due to investors' limited appetite for betting on the UK.<\/p>\n

Source: AFP<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/pre>\n<\/pre>\n

Source Link : https:\/\/www.trtworld.com\/business\/mothercare-puts-british-stores-into-administration-31096?utm_source=other&utm_medium=rss<\/p>\n","protected":false},"excerpt":{"rendered":"

Fast news Mothercare director of UK children and infant supplies retailer puts more than 2,000 jobs at risk. 79 UK stores of 58-year-old global brands have been shedding cash for years. Mothercare's 79 stores in the UK lost $ 46.9 million last year. (Tolga Accen \/ AP) Mothercare, a UK-based retailer for children's and infant […]<\/p>\n","protected":false},"author":1,"featured_media":11781,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/11780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/comments?post=11780"}],"version-history":[{"count":0,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/11780\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/media?parent=11780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/categories?post=11780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/tags?post=11780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}