Mothercare axes 50 stores and reinstates ousted boss amid brutal annual figures
(World News UK)

Mothercare is to swing the axe on 50 underperforming stores and re-hire the chief executive it sacked just weeks ago as part of a wide-ranging shake-up. The closures, which will result in hundreds of job losses, will be carried out through a company voluntary arrangement (CVA) - a move which allows companies to close loss-making shops and secure rental discounts. Mothercare employs about 3,000 people across 137 outlets. In a move that will...