The administrators of Mothercare UK have instructed CAPA to audit more than 200 properties across the retail chain, as they seek to recover cash for creditors.
PwC has appointed CAPA to conduct a full property and accounts payable audit across the sites including 79 stores Mothercare traded from, after the retailer collapsed into administration in November.
This is CAPA’s second major appointment on Mothercare. PwC appointed the Property team earlier in 2019 to agree commercial terms to ensure continued occupation of the entire store portfolio.
Mothercare UK entered insolvency in November after making losses in recent years and suffering due to changing customer behaviour and increased competition.
David Baxendale, Zelf Hussain and Mark Banfield of PwC were appointed joint administrators of Mothercare UK Ltd on November 5 2019.
They have now given the audit instruction, meaning CAPA’s Audit team will use bespoke software to undertake a forensic audit of all costs associated with 203 properties Mothercare occupied and traded from.
This will include utility costs, service charge fees, rates and all invoices owed across the company.
CAPA will inspect every piece of data to uncover any errors or anomalies, before recovering any overspent sums for the creditors of Mothercare.
