M&Co prepares to close all 170 stores following administration rescue

Clothing retailer M&Co is set to close all of its stores after AK Retail Holdings rescued the brand from administration.

The Scottish company appointed administrators towards the end of 2022, two years after it had previously collapsed.

According to the BBC, M&Co, formerly known as Mackays, currently operates 170 stores, with their upcoming closures to see a loss of almost 2,000 jobs.

In a statement on its Facebook, the retailer confirmed the news, stating: “Unfortunately we haven’t received the news we would have hoped for during our administration period, and would like to share this news with you.

“As we haven’t received any funded, deliverable offers that would result in the transfer of the company’s stores or staff to a potential buyer, this means that all of our stores will close.

“The M&Co ‘brand’ has been purchased, but unfortunately this does not include a future for our stores, website or staff. We will trade all of our stores until Easter, and then begin the close down process. We will update you close to the time of our actual closing date.”

AK Retail, which bought the brand, is the owner of plus size retailer Yours Clothing, among others.