British retailer M&Co continues to implement a program to reduce retail stores.
British retailer M&Co continues to implement a program to reduce retail stores. At the end of April, the company will close 43 outlets to meet plans to close all 170 outlets by June 2023.
The company ran into financial trouble in late 2022, bringing it under external administration. The retailer sought a buyer for its assets but was unsuccessful. The company is liquidating its business, which is expected to be completed by the end of this spring.
In February, the brand and intellectual property of M&Co was acquired by AK Retail Holdings, which owns Yours Clothing. However, the retail stores themselves were not included in the deal.
M&Co is currently holding a 50% off or more sale to liquidate inventory before the chain closes. The brand's online store has ceased operations but will soon be relaunched under the new owners.
M&Co (Mackays & Co.) is a British brand specializing in clothing, accessories and footwear for women, men and children. The company was founded in 1834 in Scotland, with more than 300 stores across the UK at its peak. In 2020, the company had an estimated revenue of £200 million and a net profit of £3.6 million.
17 APRIL 2023, United Kingdom