(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.
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