High street fashion brand reveals major update after shutting 170 shops
High street fashion brand unveils major update after going into receivership and closing 170 stores
- M&Co is about to reinvent itself as an online retailer after the collapse last year
- The 189-year-old clothing retailer will launch a website next month
A leading high street fashion brand is on the verge of reinventing itself as an online retailer after closing all 170 stores and going out of business in December last year.
Scottish clothing retailer M&Co, formerly known as Mackays, plans to launch a new website in June after closing its last high street stores in April.
The 189-year-old company, which started out as a pawn shop in Paisley, filed for bankruptcy due to rising prices and declining demand for clothing.
Now the retailer plans to move to the internet after being taken out of administration by new owner, AK Retail Holdings, who bought the brand in February.
The clothing retailer’s digital reinvention will see it selling a range of women’s clothing collections and creating its own app, following the launch of its website next month.
M&Co will become an online retailer after the launch of its website in June
The 189-year-old company went under in December due to rising prices and falling demand
The plans come after M&Co, headquartered in the small village of Inchinnan, Renfrewshire, was bailed out after being bought by Peterborough firm AK Retail Holdings for an undisclosed sum in February.
Under the terms of the deal, AK Retail bought the M&Co brand but not the company’s network of 170 high street shops, meaning the stores had to close.
In addition to M&Co, AK Retail Holdings also owns a range of online clothing stores, including major menswear brand BadRhino and petite womenswear retailer PixieGirl.
The holding company also owns Long Tall Sally, which sells clothing to women six feet tall and taller, and Yours Clothing, which caters to plus-sized women.
Andrew Killingsworth, CEO of AK Retail, said the company has “big plans” for M&Co, while also remaining committed to “preserving” the company’s “values” and “legacy”.
‘M&Co has long had a strong reputation as a local family brand that customers trust to find high quality clothing at an affordable price’ Mr. Killingsworth told Drapers.
“We have big plans for the brand, with an immediate focus on M&Co’s digital presence, with our brand new site launching at the end of June 2023 and an app coming soon.”
The Scottish company was lifted out of insolvency after being bought by AK Retail in February
The company’s 170 UK stores remain closed while M&Co focuses on the internet
M&Co has tremendous potential and we are delighted to bring our expertise and experience to the table.
‘We want to ensure that M&Co remains a loved and trusted brand for generations to come.’
Prior to the bankruptcy, M&Co employed more than 1,900 people in its 170 high street shops in the UK.
The company collapsed earlier in 2020, leading to the loss of 380 jobs and the closure of 47 of its stores.
The collapse followed the closure of major high street stores including Joules, Topshop and Debenhams in recent years.
The administrators of M&Co have been contacted for comment.