 The company had reviewed its contract |
The High Street retailer Mothercare has made bigger-than-expected losses, cancelled its dividend and warned that its recovery programme will take longer that first thought. But the new chief executive said he was encouraged by the company's progress.
Mothercare made a loss before tax of �24.8m, compared with a profit of �100,000 last year.
The company has been struggling partly because a new distribution centre caused chaos, leaving stores with the wrong stock.
Ben Gordon, a former Walt Disney executive, who took over as chief executive of Mothercare in December, said: "The business is now on a stable platform and we have developed a plan to turn Mothercare around."
But he said the recovery plan would take three years.
One-Minute World News 
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