Mothercare sees £103m loss after writedown of Early Learning Centre

Parenting retailer Mothercare has seen a bottom-line pre-tax loss of £102.9 million after a £55 million writedown on the value of the group's Early Learning Centre and nearly £10 million in the UK in restructuring costs.

After stripping out one-off costs such as the writedown on the ELC, underlying profits plunged 94% to just £1.6 million.

In the UK, Mothercare expects the consumer environment to remain difficult and reassured that it is "planning accordingly".