Grant Thornton has been appointed as the new auditor for retailer Mothercare, replacing Deloitte.
Deloitte will resign on 30 March 2019 and Grant Thornton’s role will take effect from the 28 March 2020 financial year. The appointment is still subject to the approval of shareholders at the next AGM in July.
Mothercare has undergone some challenges in the past year as it entered a CVA to close some of its stores and in its most recent trading update, reported an 11.4% drop in sales for Q3.
For the financial year 2017/2018, Mothercare paid Deloitte £400,000 for its audit services and £100,000 in non-audit fees.