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BRIEF-Mothercare Says Covid-19 Likely To have Material Impact On Short-Term Revenues - Reuters

March 30 (Reuters) - Mothercare PLC:

* TRANSFORMATION PLAN UPDATE

* GLOBAL FRANCHISE PARTNERS FACING CONSIDERABLE CHALLENGES THAT COVID-19 PANDEMIC AND NATIONAL GOVERNMENT RESPONSES PRESENT TO BUSINESSES

* REMAIN ON TRACK WITH PROCESS OF FINALISING DETAILED CONTRACTUAL ARRANGEMENTS WITH BOOTS

* CURRENTLY ANTICIPATE THAT CONTRACTUAL ARRANGEMENTS WILL BE FINALISED IN LATE SPRING

* A WIDER MOTHERCARE PRODUCT OFFER WILL BE AVAILABLE ONLINE AND IN BOOTS STORES FROM LATE SUMMER 2020

* CURRENTLY REVIEWING TIMETABLE FOR PUBLICATION OF OUR AUDITED ANNUAL FINANCIAL REPORT

* WE HAVE NOT EXTENDED STANDBY EQUITY FACILITY OF UP TO £20M MADE AVAILABLE TO US BY NUMIS SECURITIES

* CONTINUES TO KEEP FINANCIAL NEEDS AND AVAILABLE RESOURCES OF GROUP UNDER CLOSE REVIEW

* THERE REMAINS A FURTHER AMOUNT TO COME FROM ADMINISTRATORS OF MOTHERCARE UK LIMITED WHICH IS EXPECTED TO REDUCE THIS SECURED DEBT FURTHER

* COVID-19 IS LIKELY TO LEAD TO A MATERIAL IMPACT ON MOTHERCARE’S SHORT-TERM REVENUES

* IN CLOSE DIALOGUE WITH OUR FRANCHISE PARTNERS AND OUR MANUFACTURING PARTNERS Source text for Eikon: Further company coverage:

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"to have an impact" - Google News
March 30, 2020 at 01:30PM
https://ift.tt/346jZ73

BRIEF-Mothercare Says Covid-19 Likely To have Material Impact On Short-Term Revenues - Reuters
"to have an impact" - Google News
https://ift.tt/2OtZUAR
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