50 stores to shut with M&Co on brink of pre-pack administration

50 stores to shut with M&Co on brink of pre-pack administration
The news comes after M&Co drafted in Deloitte in June to review its options.
// McGeoch family on verge of buying back assets of M&Co via pre-pack administration deal
// The deal could mean 50 stores will permanently shut while hundreds of jobs will be lost
// M&Co currently has 262 stores and employs 2700 staff

The family that owns the M&Co value fashion chain is reportedly set to buy back the business via a pre-pack administration deal as part of efforts to save it from collapse.

According to Sky Newsthe pre-pack deal would see its assets sold back to McGeoch family and could spell the permanent closure of 50 stores and hundreds of job cuts.

While an exact number of job losses is not yet know, sources cited by Sky News said that the “majority” of M&Co’s 2700-strong workforce would keep their jobs after the pre-pack administration deal is finalised.

READ MORE: M&Co seeks new backers after £50m revenue shortfall

M&Co currently operates from 262 stores in the UK, most of which have reopened since lockdown restrictions were eased on June 15.

The news comes after the value retailer drafted in Deloitte in June to review options for the business, including a partial sale or full sale via a pre-pack administration.

A number of turnaround funds and private equity firms were approached as part of the process.

M&Co has also previously optimism about its prospects, adding that changing retail patterns mean shoppers are likely to choose to visit stores in local towns rather than travel long distances.

Founded in 1961, M&Co is owned by the McGeoch family and is run by chief executive Andy McGeoch.

In its most recent results which showed trading for the year to February 28 2020, the retailer reported a 40 per cent drop in operating profits to £3.6 million.

Net debt reduced from £19.2 million to £8.7 million in the year.

A pre-pack administration would make M&Co the latest in a fast-growing list of retailers that have announced similar insolvency processes, or general restructuring and job cuts, after fashion and department store chains took a battering from the coronavirus lockdown.

M&Co have not yet commented.

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  1. ‘Value fashion chain’ – They sell primark quality clothing at twice the price, not what I’d call value. Not surprised they are in trouble.

  2. M and Co have a branch near me. They are very expensive for value clothing with supermarket / Primark / quality but M and S prices.

    Won’t miss the local store in Deal if it shuts. Don’t shop there.
    Have sympathy for the staff though. With luck if it goes that and the former M and S store might be demolished and made in to a much larger and needed new supermarket for the town.

    • I have had m& Co clothes for yrs & still in good condition & wearable. They are excellent Vale not like Primark one wear & they rip & not ture to size ever. Won’t catch me in Primark again cheep tat..

      • I’ve had primark clothes for years too with no probs. They are all made in the same sweat shops in far east just put different labels in them even Debenhams at their prices are no better. You may have had one bad experience but don’t think m&co are better just because you pay more.

    • I must disagree with everything you say. Their designs are up to date and their quality is excellent. I now prefer them to M&S. in some small towns where all the shops have closed they are the only shops where you can find a range of child and adult clothing. Their bed linen and towels are particularly good, and at Christmas their evening wear is lovely. To wish demolition of high street clothing stores and replacement with a supermarket is madness. You never shop there so I’m not surprised to hear you won’t miss them, but most people will.

  3. In recent years the quality of their clothes has deteriorated drastically. Always used to shop there but no longer. They need to to go back to better quality if they hope to survive

  4. For someone who is slightly older they are a very good store. Style is more classic than Primark so a lot of my clothes bought from there last for several years rather than just one season. I would be very upset if my local store in Henley was one of those that has to close.

  5. It is unfair to compare M & Co to Primark ! I have had clothes that have always washed well and stayed true to colour from M & Co. Children and baby clothes fab too! Hexham staff are very helpful in these troubled times such a tidy shop!

  6. I moved to Hunstanton in Norfolk a few years ago and have bought many items there. I consider the quality far better than primark, a place I have also shopped. They bring clothing sales into the town , the alternative being a long trek to Kings Lynn I hope they survive and grow. If they leave the town they will be missed
    M and co v primary. Not a contest not in the same league

  7. Much better quality than primart tat . Better clothes than M&S ( their fashion buyers should re educated) Mandco are good for the lady over 30 over 40 over 50 and those of us over 60 who don’t want to look like our grannies did if we wore M&S clothes. I would literally have no where to buy my clothes from. Mandco sell up to date good quality stuff and their stock changes on a regular basis

  8. I love this store the quality is very good and one of the few stores that I can find skirts for work
    Cannot compare this store to Primarni I don’t want clothes that don’t fit properly or fall apart
    Mandco is my favourite store

  9. I have bought clothes from M & Co for years. I have always found their clothing to be well made and long lasting. You can wash them over and over and they always keep their shape, they are better than M&S and certainly better than the quality of Primark clothing.

  10. I love M & Co, very good quality excellent petite range and very good range of clothing. You must have had a very surprising failure but if they close i’ll miss them terribly.


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