A MAJOR high street shop is to close several branches today after collapsing into administration.
All 170 M&Co stores are set to close forever and some shops have already confirmed when they’ll shut their doors for good.
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The retailer, previously called Mackay’s, fell into administration for the second time in two years in December 2022.
Administrators at Teneo put the bust business up for sale with an auction deadline for interested buyers.
M&Co’s brand and intellectual property was sold to Yours Clothing but the stores weren’t and are set to close.
Six M&Co stores will bring the shutters down today (April 1) and they are as follows:
- Lewes
- Gosport
- Belper
- Beccles
- Newquay
- Lerwick
A number of stores have already closed including M&Co’s branches in Wick and Fort William.
The closures have been confirmed on both stores’ Facebook pages.
Teneo, M&Co’s administrator, said that further stores will begin to vanish from the high street as store stock dries up.
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But the administrator wouldn’t provide an exact date when it expects the brand to completely exit the high street.
M&Co has been running a huge 30-60% off closing down sale online and in stores in recent weeks to help shed remaining stock.
Shoppers need to act fast to take advantage of the discounts because once the items are sold they’re gone forever.
And remember you might find that your closest store doesn’t have what you want in stock.
You can find your closest M&Co store by visiting the retailer’s website and using the store locator tool.
We’ve listed all of M&Co’s stores that are expected to close in the coming months.
M&Co isn’t the only store to go into administration and shut its shop doors.
Stationery retailer Paperchase collapsed into administration after it failed to find a buyer.
Supermarket giant Tesco quickly stepped up to buy rights to the brand but all of its 106 stores will close for good on Monday (April 3).
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.
If you do bag a bargain from M&Co during its clearance sales, it’s important that you are aware of your refund rights.
Here is a full list of high street stores closing for good in April.
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This post first appeared on thesun.co.uk
