M&Co to close all 170 stores

Clothes retailer M&Co will close all of its 170 stores in the spring with the loss of around 2,000 jobs.

The Scottish clothing and homeware retailer has been purchased by AK Retail Holdings, which owns brands including Yours Clothing and Long Tall Sally.

However, the purchase will not include any physical stores and these will close during Easter.

The company announced the store closures via social media and stated: "Unfortunately we haven't received the news we would have hoped for during our administration period, and would like to share this news with you.”

It continued: "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, this means that all of our stores will close."

The company entered administration in December 2022 for the second time. In 2020, the company entered prepack administration and closed 47 stores.

The move comes as a number of other UK High Street stores fall into administration, including Paperchase which sold its brand to Tesco after failing to find a suitable buyer. Clothing retailer Joules was also recently purchased by Next for £34 million.

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