M&Co is closing 26 more stores this weekend – check if your local branch is affected
M&Co will close another 26 stores this weekend as part of a program to close all 170 locations across the country – check if your local branch is affected
- The fashion retailer will close 24 stores today and another two on Sunday
- It comes after the company said in February it would close all of its 170 stores
A major British high street retailer is closing more of its stores this weekend after hundreds have already closed permanently.
Scottish fashion retailer M&Co is closing 24 of its stores in the UK today and a further two tomorrow.
It comes after the company announced it would close all of its 170 stores in February, after going into receivership twice within two years.
Shops closing this weekend include those in Northallerton, North Yorkshire, Newport, Wales and St Andrews, Scotland.
The brand was bought by Peterborough-based AK Retail Holdings, the parent company of Yours Clothing, Long Tall Sally and Bump It Up Maternity, but the deal did not include the physical stores.
Scottish fashion retailer M&Co is closing 24 of its stores in the UK today and a further two tomorrow
M&Co, which traded both online and through a large store network, brought in administrators from consultancy Teneo in December last year.
The company said M&Co had experienced “a surge in input costs,” leading to the collapse of “consumer confidence” and “trading challenges.”
In 2020, the company closed 47 stores as part of an administrative deal that cost 400 jobs out of a total workforce of about 2,600.
Due to the recent closure of the physical stores, approximately 1,900 jobs are expected to be lost.
M&Co was founded as Mackays, a pawnbroker, in Paisley, Renfrewshire, in 1834.
In the 1950s it switched to selling clothes under brothers Len and Iain McGeoch.
In 2005, the company began rebranding its stores as M&Co, which was completed in 2020.
The closures follow a series of post-Covid high street collapses such as Paperchase, Debenhams, Monsoon and the Arcadia Group.
Paper giant Paperchase went bankrupt in January this year and its brand was bought by Tesco, putting its stores and hundreds of employees at risk of closure and layoffs.