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Britain's Mothercare has ruled out management buyout - source

Reuters - UK Focus

LONDON, May 23 (Reuters) - Mothercare (Other OTC: MHCRF - news) has decided a management buyout is "100 percent not" an option in the future, a source familiar with the matter said on Wednesday, after Bloomberg reported that its CEO had proposed one earlier this year.

Mark Newton-Jones proposed taking the struggling retailer private before his departure in April, Bloomberg reported. Newton-Jones was rehired as chief executive last week.

Mothercare said in a statement that "at certain points the board considers various strategic options available to the company.

"However, no specific plans were drawn up in relation to an MBO."

(Reporting by Alistair Smout; editing by Kate Holton)