Once a fixture of the British high street, Mothercare may now be set for an ignominious end.
Shares in the 65-year-old baby and childrenswear brand cratered 70% on Friday after it warned over its future, with its Middle East franchise partner set to shut most of its stores in the region next year.
Mothercare, founded in 1961 and now surviving as a franchise-only business, got the bad news on Thursday, with the partner blaming the ongoing situation across several of its territories.
That is a hefty blow, and the company is not pretending otherwise. The closures will take a big bite out of its order book for the year to March 2028, hitting revenues, profits and cash flow all at once.
Chairman Clive Whiley called it a heavy blow to the business and its stakeholders, though he insisted the group would keep pushing for talks to restore critical mass and value.
For now, Mothercare reckons it has enough in the tank to trade for a few more months and has kicked off a review of its business model and cost base.
The warning caps a miserable run: only last month the group posted a 42% slump in annual revenue to £22.4 million and a £4.3 million pre-tax loss.
A strong week elsewhere
Turning to the wider market, the AIM All-Share enjoyed a strong week, advancing 1% to 797.68, outperforming the FTSE 100.
Asiamet was the biggest faller, down around 82%, but this is a success story, not a symptom of failure. After the sale of its Indonesian copper asset for more than $100 million, investors were awarded a $93 million special dividend. The deadline to receive the bumper payout passed on Monday, hence the ex-dividend drop.
Cirata slumped 40% after the data software group revealed a grim set of interim numbers. Revenue for the six months to 30 June fell to $1 million from $4.8 million, while bookings dropped to $0.5 million from $3.8 million. Its loss widened to $5.3 million, and the group now expects some deals to close later than hoped, pushing back its FY26 cash flow breakeven ambition.
GEO Exploration fell 35% after trading resumed following a heavily discounted fundraiser that brought in over £1 million. The new investment will be ploughed into the Gorge asset in Australia, where gold showed up in 99.6% of soil samples.
Nativo strikes it lucky
Sticking with mining, the week's biggest riser was Nativo Resources. Its shares almost doubled after the Peru-focused gold company secured funding to complete its La Patona processing plant.
It has brought in £2.6 million of project finance and a further £600,000 from shareholders. The cash will finish construction and commissioning of the Phase 1 plant near Acarí, which Nativo now expects to bring into production in the second quarter of 2027.
Dianomi, the digital advertising group, jumped 74% after announcing on Friday it has accepted a takeover offer from larger American rival Taboola worth up to £27 million.
Orosur Mining shares jumped 54% after early drill results from its El Cedro prospect in Colombia. The first hole hit gold from surface, including 61.35 metres at 0.93 grams per tonne, and struck the target vein system at around 100 metres as planned.
Quadrise shares rose 18% after an update on its Utah project with Valkor Technologies. Drilling has begun at two new pilot wells, with an eight-well programme due later this year targeting 1,000 barrels a day in 2027. Valkor is expected to pay the outstanding $950,000 site licence fee by the end of October, clearing the way for Quadrise to ship its Multifuel Manufacturing Unit.
ACG's second act
And finally, ACG Metals may still have plenty left in the tank, with the real prize, its sulphide expansion at the Gediktepe mine, arguably not yet fully reflected in a share price already up 68% this year.
The project was 87% complete at the end of June, produced its first copper concentrate on 31 August, and is ramping up towards full commercial production, including zinc, by the year end.
That comes on top of a solid first half, with revenue up 27% to $90 million and adjusted profits 19% higher at $48 million, as a 64% jump in realised gold prices offset a 17% dip in output during the transition.
