April 20, 2024


Get Into Fashion

M&Co plunges into administration – Retail Gazette

M&Co plunges into administration
M&Co has hired Teneo as administrators
// M&Co has hired Teneo as administrators as it collapses for the 2nd time in just around a 12 months
// Teneo is exploring a sale of the 180 store price fashion retailer

M&Co has collapsed into administration as mounting prices have pushed it around the brink.

The value vogue retailer, which has all around 180 United kingdom shops, has appointed Teneo Fiscal Advisory as administrator, which is discovering a sale of the organization.

A spokesman for Teneo informed Drapers: “Like numerous merchants, the organization has professional a sharp rise in its input charges, which has coincided with a drop in customer self-confidence top to greater pressure on hard cash flows and investing losses.

Subscribe to Retail Gazette for absolutely free

Signal up here to get the newest news straight into your inbox each individual early morning

“No fast redundancies have been made and the joint directors are exploring a possible sale of the organization in an accelerated timeframe, through which time the firm will carry on to trade from its merchants and web page.”

M&Co fell into administration in August 2020, when it was purchased back by its Scottish entrepreneurs the McGeoch household in a pre-pack offer that observed it close 47 stores.

About the previous week, the retailer has shut two retailers in Dorchester in Dorset and Droitwich, Worcestershire.

Click on below to indication up to Retail Gazette‘s no cost day by day email newsletter