CLOTHING retailer M&Co is to shut all of its 170 stores this spring, with the loss of almost 2000 jobs expected.
The Renfrewshire-based company, previously known as Mackays, is one of Scotland’s best known clothing chains.
It appointed administrators for a second time at the end of last year, after previously collapsing in 2020.
The brand has been bought by AK Retail Holdings although the purchase did not include physical stores, meaning they will now close down at Easter.
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The closures were announced on social media by branches across the UK.
The posts, on Facebook, began: “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.
“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.”
Mackays was first established as a pawnbrokers in Paisley in 1834.
It switched to selling clothes in 1953, led by brothers Len and Ian McGeoch and re-branded as M&Co in 2005.
It previously went into administration in 2020, when it lost 47 stores and 380 staff, although assets were immediately brought back by the family that built it up.
AK Retail Holdings which has bought the brand is also the owner of Yours Clothing.
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