Scottish clothing retailer M&Co to shut all its 170 stores this Easter with almost 2,000 jobs set to be lost
M&Co will close all its 170 stores across the UK this Easter.
The 189-year-old clothing retailer – which used to be known as Mackays and its one of the most prominent fashion chains in Scotland – crashed into administration in December.
The brand was bought by AK Retail Holdings last week, but the purchase did not include its UK wide stores.
Job losses: M&Co, which crashed into administration in December, will close all its 170 stores across the UK this Easter
Almost 2,000 jobs will be lost in the latest miserable chapter for the company.
In an update to customers on its Facebook page, Paisley-based M&Co said all stores would close ‘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’.
The deal with AK Retail – owner of Long Tall Sally and Yours Clothing – ‘unfortunately does not include a future for our stores, website or staff’, the statement explained.
Stores across England, Scotland and Wales will trade until Easter in order to get rid of existing stock with an update on a specific closing date to come ‘closer to the time’.