Published • loading... • Updated
All Stores Close as High Street Fashion Retailer in Administration
Administrators said 608 claims totaling £34m were admitted, while unsecured creditors will receive only a £800,000 prescribed part dividend.
- Recently lodged papers reveal M&Co has moved from administration to dissolution, leaving more than 600 unsecured creditors facing combined losses of more than £33 million.
- Teneo administrators attributed the failure to a 'drawn-out recovery' following the pandemic, compounded by high inflation and a cost-of-living crisis that deteriorated trading performance.
- The collapse resulted in 1,800 job losses across 168 stores, with administrators admitting 608 claims totaling £34m and making £196,000 in 'ransom' payments to critical creditors.
- Peterborough-Based Retail Holdings, owner of Yours Clothing, acquired the brand for £2.5 million, though the transaction excluded physical stores and concessions.
- This dissolution follows a challenging period for Britain, with the Glasgow-founded Quiz also collapsing this year; Mackays, founded in 1953 by Len and Ian McGeoch, struggled despite earlier rescue attempts.
Insights by Ground AI
25 Articles
25 Articles
Coverage Details
Total News Sources25
Leaning Left1Leaning Right0Center23Last UpdatedBias Distribution96% Center
Bias Distribution
- 96% of the sources are Center
96% Center
C 96%
Factuality
To view factuality data please Upgrade to Premium
