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M&Co is continuing to trade both online and in-store as administrators explore a potential sale.
Administrators from Teneo Financial Advisory were appointed on Friday.
Gavin Park, joint administrator at Teneo, says: “Like many retailers, the company has experienced a sharp rise in its input costs, which has coincided with a decline in consumer confidence leading to trading challenges. Despite a very loyal customer base, particularly in local markets, and a well-recognised brand, the current economic outlook has placed increasing pressure on the company’s cash position.”
M&Co, which has been in business for more than 60 years, is one of the UK’s largest privately-owned fashion and lifestyle retailers. It specialises in serving shoppers in towns and and on local high streets. It previously failed in 2020, when the family that founded it bought it out of administration.
Today the Renfrewshire-based company sells through 170 stores and online, both through its own website and through third-party websites such as Next, Zalando and Amazon.
Teneo says that no immediate redundancies have been made from a 1,910-strong workforce. The joint administrators are now exploring a potentially fast sale of the business. In the meantime, it says the company will continue to trade from its stores and website.
M&Co is a Top100 retailer in RXUK Top500 research.
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