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Mothercare bosses get share windfall

By Daily Mail Reporter
Updated: 07:35 EDT, 1 June 2011

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Mothercare bosses have awarded themselves hundreds of thousands of pounds' worth of performance-related shares.

It comes just weeks after chief executive Ben Gordon said 110 stores will be shut, potentially threatening up to 250 jobs.

Gordon was awarded 135,135 performance-related shares, worth more than £500,000 based on current values.

The company is hoping to shave £12m from its annual rental bill by March 2013 and shrink its UK store portfolio to just 266.

A spokesman for the company was keen to point out that the shares cannot be sold for three years and only if bosses manage to achieve a growth of 5% over that period.

She added: 'Last year's targets were missed, and management were not given a bonus.'

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