Mothercare to shut 50 stores as it secures lifeline from creditors

Mothercare has been given the green light to swing the axe on 50 underperforming stores in a move that will see 800 jobs put at risk. The store closures will be carried out through a company voluntary arrangement (CVA) – a move which allows companies to close loss-making shops and secure rental discounts.  On Friday Mothercare said it had received the backing of creditors, including its landlords, to press ahead with a CVA. Click here for the full Independent article Click here for the full Guardian article