Philip Green’s fashion empire Arcadia Group on Tuesday said it received applications from legal entities of U.S.-based property group Vornado challenging two of its seven planned Company Voluntary Agreements (CVAs).
Troubled maternity and baby products retailer Mothercare has reduced the size of its board of directors and added more restructuring experts as part of its efforts to reverse a string of financial losses.
Mothercare has reported more weak results but the mother-and-baby products retailer talked of progress and its focus on rebuilding itself as a global brand with a bigger move into digital and more exclusive products.
Mothercare on Thursday released a trading update and hailed the “significant strategic progress” it has made so far. Its turnaround continues and expectations for full-year profit remain in line with analyst forecasts.