Having 1,500 Mothercare and Early Learning Centre (ELC) stores in 60 countries, struggling mother and baby products retailer Mothercare has raised around US $ 153 million (GBP 95 million) from its rights issue, which it hopes will help change the fortunes of the company’s UK operations. It announced the issue last month to enable the company to deliver on its new strategic plan for the UK business. Experts feel that sales densities remain very low in the UK and believe that the closure of 50-75 stores could cost a lot more than the guided GBP 25 million. Its market share of children’s clothing and home/travel products has declined by 3.3 per cent to 8.7 per cent in the last four years due to better quality and value high street brands and on-line offers.
