Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


UK’s Mothercare says it expects to complete refinancing shortly

(Reuters) -Mothercare expects to complete a refinancing shortly and will remain in discussions with stakeholders and financing partners to ensure adequate financing, the British baby products retailer said on Friday.

In May, the company started discussions with its lender to change, renegotiate or refinance its debt facility due to high interest rates and said it may need waivers to future covenant tests.

Mothercare also posted a 44% drop in its full-year adjusted core profit to 6.7 million pounds ($8.21 million), which sent the London-listed company’s stock tumbling 15.6% in early trade.

The company has been struggling with the unprecedented demand shock caused by the pandemic, the Russia-Ukraine conflict and high interest rates.

Its total cash was 7.1 million pounds as of March 25, down from 9.2 million pounds, a year ago.

In June, Chief Executive Daniel Le Vesconte stepped down after just five months at the helm.

Mothercare’s shares are down 43% so far in 2023. ($1 = 0.8159 pounds)

(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Savio D’Souza)


Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts