The news has put thousands of British high street jobs at risk as it becomes the latest retailer facing collapse in. According to Sky News, administrators have been put on standby while the company reportedly finalises a restructuring plan.

This means administrators could be called in to its domestic division as soon as this week.

This would not directly affect its publicly quoted parent company, which is in talks with lenders over a refinancing deal to secure its future trading.

Mothercare’s UK business only represents a small part of its overall group sales and is now dominated by its franchising business outside the UK.

Mark Kleinman, from Sky News, wrote: “Mothercare is preparing to but its UK business into administration, underlining the decline of a once-powerful high street brand.”

More to follow…

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