SHOPPERS have just days left to use gift vouchers at a major retailer before it shuts its doors for good – so use it or lose it.
High street retailer M&Co was bought by Yours Clothing last week after falling into administration.
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However, all 170 shops will start shutting their doors from April.
Shoppers who have gift vouchers for M&Co must spend them by February 12 – if they don’t use it, they’ll lose it.
M&Co will accept gift cards in store provided the value of the gift voucher is no more than half the total price of items purchased.
No new gift cards are being sold, and no balances added to existing gift cards.
Shoppers should be able to redeem their vouchers in any M&Co store.
Gift vouchers are no longer being accepted for online orders.
In addition, those signed up to M&Co’s loyalty scheme will no longer benefit from it.
Loyalty cards won’t be accepted and no new customers are able to sign up.
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Those still part of the loyalty scheme won’t be able to earn points on any purchases made from now on.
If you have any questions, you can contact M&Co by email at [email protected].
Yours Clothing bought M&Co last week.
However, as the deal included just the brand, the 170 stores are set to close – and this process is expected to begin after the Easter weekend.
Administrator Teneo said stores will continue to trade over the next few weeks.
However, at least 20 stores have confirmed on Facebook that they’ll be shutting from April.
The exact dates each shop will close is yet to be revealed so it might be wise to return any items you have sooner rather than later.
The Peterborough-based group also owns menswear line BadRhino, womenswear retailer Long Tall Sally and maternity brand Bump It Up Maternity.
It is currently running a closing down sale before the stores disappear.
Shoppers can get between 30-50% off sale online and up to 60% off in-store.
Administrators at Teneo put the bust business up for sale with an auction deadline for interested buyers.
They blame M&Co’s collapse on the sharp rise in costs while squeezed household budgets have also depressed sales.
Nearly 2,000 jobs are now at risk though we don’t know for sure if and when redundancies will be made.
M&Co isn’t the only store to go into administration and shut its shop doors.
Stationery retailer Paperchase collapsed into administration this week after it failed to find a buyer.
Supermarket giant Tesco quickly stepped up to buy rights to the brand, as they plan to sell Paperchase items in stores.
When a business is liquidated, they will look to sell stock for as much as possible to pay back creditors.
Stores may disappear off the high street within weeks but the process could take up to two months.
Major burger chain Byron Burger also recently fell into administration and is set to close nine restaurants immediately.
Further popular chains including Las Iguanas, Cafe Rouge and Bella Italia also fell victim to the pandemic.
In December 2022, pub chain Wetherspoons announced it would be closing a total of 39 pubs after being hit by soaring inflation.
While H&M also announced it would be shutting a handful of its stores.
H&M has closed branches in recent months, with more to follow this year.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]
