Another body blow for Lanark as M&Co set to close its doors
The Renfrewshire-based chain appointed administrators Teneo in December. All 170 stores are to close after M&Co failed to secure a buyer, affecting 1910 members of staff.
AK Retail Holdings, which owns Yours Clothing, Long Tall Sally, BadRhino and maternity brand Bump It Up, stepped in to rescue the brand. While the M&Co brand was purchased for an undisclosed sum, its stores were not included in the purchase.
In a social media statement, staff said stores would trade until Easter.
It read: “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 M&Co brand has been purchased, but unfortunately this does not include a future for our stores, website or staff. We will trade all of our stores until Easter and then begin the close down process.
“We hope you appreciate this is a very difficult time for staff and we ask for respect and understanding.”
Clydesdale MSP Máiri McAllan said her office would help “in any we can”.
She added: “This closure is sad and difficult news for the staff and my thoughts are with them.
“M&Co has had an important presence on Lanark High Street for many years and it is disappointing that closure in Lanark has been confirmed.
“As local MSP I will continue to work with the community on efforts to support Lanark High Street.”