M&Co plunges into administration

M&Co plunges into administration
M&Co has hired Teneo as directors
// M&Co has employed Teneo as directors as it collapses for the next time in just over a 12 months
// Teneo is discovering a sale of the 180 retail outlet price fashion retailer

M&Co has collapsed into administration as growing charges have pushed it around the brink.

The price manner retailer, which has all around 180 Uk stores, has appointed Teneo Fiscal Advisory as administrator, which is exploring a sale of the small business.

A spokesman for Teneo informed Drapers: “Like several vendors, the business has seasoned a sharp increase in its input expenditures, which has coincided with a decline in consumer self confidence major to amplified pressure on cash flows and trading losses.

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“No immediate redundancies have been produced and the joint directors are discovering a possible sale of the organization in an accelerated timeframe, for the duration of which time the firm will continue to trade from its merchants and web site.”

M&Co fell into administration in August 2020, when it was purchased back again by its Scottish entrepreneurs the McGeoch relatives in a pre-pack offer that saw it near 47 shops.

More than the earlier 7 days, the retailer has shut two stores in Dorchester in Dorset and Droitwich, Worcestershire.

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