- Infant-focused retailer Mothercare said crisis talks with its lenders were progressing 'constructively' ahead of the release of its annual results.

The company said it expected the discussions to conclude before 17 May, when the results are due to be released. Its lenders had agreed to defer the testing of its financial covenants, due 24 March, accordingly.

'As previously indicated, we are also exploring additional sources of financing to support and maintain the momentum of our transformation programme and we are engaged in preliminary discussions on securing such additional financing,' Mothercare said.

Mothercare shares have tumbled about 87% in the past year after it announced a series of profit warnings.

At 8:25am: [LON:MTC] Mothercare PLC share price was +0.34p at 16.04p

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