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Mothercare is the latest in a long line of businesses struggling to adjust to the rapidly changing retail landscape. The insolvency regime in the UK provides a robust and flexible framework, through CVAs and other procedures, to enable businesses like Mothercare to reshape their liabilities and retail footprint, but often this isnât enough.
Reducing the rent roll and business rates can help a lot, and may also help landlords avoid having empty properties in key locations. In order to survive however, retail businesses may need to go further and look for a radical re-positioning of their business structures and offerings, if they are to survive in the longer term in the face of structural shifts in buying habits and competitor offerings. Itâs in the interest of all stakeholders, including employees, suppliers, landlords and customers that such efforts are successful.
The high street needs all the help it can get.