Cinven walks away from Mothercare deal

Monday 30 January 2012 11:00 GMT
Comments

Hopes that a private equity firm Cinven would bid for struggling maternity product retailer Mothercare have ended after it walked away from a deal.

Cinven's interest was reported last month, prompting a 4.6 per cent rise in Mothercare's share price. The retailer has endured a torrid time in the UK recently. It made a loss of £81.4m in the 28 weeks to 8 October, and it plans to close 111 loss-making UK town centre stores by March 2013, leaving it with 266 shops. It is also searching for a new chief executive, following the departure of Ben Gordon in November.

Alan Parker, the chairman, is leading the company until a replacement is found.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in