Mothercare has told the trustees of the Mothercare UK defined benefit (DB) schemes that it will be unable to make the first instalment of the deficit repayment contributions due this month due to “reduced cash generation” as the result of the suspension of its Russian business.
A pre-close trading update from Mothercare today (11 April) said the pension deficit had reduced from the £124.6m recorded at the last full actuarial valuation of the Mothercare UK schemes in March...
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