Are M&Co in administration?
M&Co has been put into administration and its assets immediately bought back by the family that built it up. A total of 47 shops will close, with 215 remaining open. According to administrators Deloitte’s, the deal means about 2,600 jobs can be retained.
Who is M&Co owned by?
the McGeoch family
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.
Are M&Co in trouble?
M&Co, which trades from more than 260 stores, is close to a pre-pack insolvency deal that will see its assets sold back to the McGeoch family. Fifty of the company’s stores will close permanently but the deal is likely to preserve the jobs of most of the company’s 2,700 staff, according to Sky News.
Does Next own M&Co?
Mackays Stores Limited (previously Mackays, trading as M&Co.) is a Scottish chain store selling women’s, men’s, and children’s clothes, as well as small homeware products….M&Co.
| Trade name | M&Co |
|---|---|
| Net income | £(888,000) (2019) |
| Owner | Iain McGeoch (90%) |
| Number of employees | 3900+ (2019) |
| Website | www.mandco.com |
Where is M&Co based?
M&Co is one of the largest, privately-owned fashion retailers in the UK and has been selling quality clothing for 50 years. Originally a small family business of only 6 shops in Glasgow owned by the McGeoch family in the 1960s, M&Co, as we are now known, has almost 300 stores nationwide.
When did Mackays become M&Co?
Our current chain has grown organically from a small family business of just 6 stores and now amounts to almost 300. Between 2005 and 2007, the store portfolio was expanded and upgraded, and Mackays successfully re-branded to the more contemporary M&Co fascia.
Which M&Co stores are closing in 2021?
THESE are the M&Co stores that are closing:
- Alloa.
- Annan.
- Ashington.
- Batley Mill.
- Bicester.
- Bishop Auckland.
- Bodmin.
- Bourne.
Can M&Co survive?
Nearly 50 M&Co stores to shut but Haddington and Musselburgh survive. M&CO shops in Haddington and Musselburgh will remain open after the clothing retailer announced plans to shut nearly 50 stores.
How many stores does M and Co have?
Rapid expansion saw the business become one of the largest privately-owned fashion retailers in the UK, growing to over 200 stores across the country.
Which M&Co stores are closing down?
FASHION chain M&Co is to close 47 stores and axe 380 jobs as part of a major restructuring plan….THESE are the M&Co stores that are closing:
- Alloa.
- Annan.
- Ashington.
- Batley Mill.
- Bicester.
- Bishop Auckland.
- Bodmin.
- Bourne.
How many stores do M and Co have?
M&Co started life as a family pawn broking shop in Clydebank in the 1950’s, originally known as Mackays. Rapid expansion saw the business become one of the largest privately-owned fashion retailers in the UK, growing to over 200 stores across the country.
Which M & Co stores are closing?