Sale Reductions Started Today As Fears For M&Co Stores In Thurso And Wick As Firm Goes Into Adminstration

12th December 2022

Once again M&co formerly Mackays has gone into administration.

M&Co fell into administration in August 2020, when it was bought back by its Scottish owners the McGeoch family in a pre-pack deal that saw it close 47 stores.

Established in 1834 as a pawnbrokers, Mackays switched to selling clothes in 1953 by brothers Len and Iain McGeoch. In 2005 the company rebranded as M&Co. to reflect a more modern image.

he stores in Thurso and Wick were formerly family owned "Shearers".

The company currently has 1,910 staff with 170 shops across the UK.

Some of the stores have been closed already.

A spokesman for administrators Teneo Financial Advisory Limited, told fashion business magazine Drapers: "Like many retailers, the company has experienced a sharp rise in its input costs, which has coincided with a decline in consumer confidence leading to increased pressure on cash flows and trading losses.

"No immediate redundancies have been made and the joint administrators are exploring a potential sale of the business in an accelerated timeframe, during which time the company will continue to trade from its stores and website."