June 4, 2018 / 12:21 PM / 4 months ago

Mothercare to consider all options for Childrens World

(Reuters) - Mothercare Plc (MTC.L) said it would consider all options for its Childrens World business after its creditors did not approve the company’s restructuring proposal.

Branding is seen outside a Mothercare store in Altricham, Britain, May 16, 2018. REUTERS/Andrew Yates

The British parent and baby products retailer said on Friday creditors had approved its proposal to close more than a third of its UK stores as part of a survival plan.

But after a post-meeting review of the voting documentation, the company said a plan for the Children’s World unit had not been approved by the necessary 75 percent majority.

“The CVA Proposals and/or any restructuring of CW (Childrens World) are not expected to affect the ordinary course of operations of Mothercare, which continues to trade as a going concern under the control of its directors,” the company said.

Reporting by Arathy S Nair in Bengaluru, editing by Louise Heavens

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