Jobs at risk

M&Co brand acquired but stores look doomed

M&Co: fell into administration twice

The brand and intellectual property of collapsed Scottish retailer M&Co have been acquired by AK Retail Holdings, owner of Yours Clothing, for an undisclosed sum.

M&Co, which was based in Paisley, fell into administration on 9 December and Teneo Financial Advisory was appointed as administrators of the business.

At the time, M&Co had 170 stores which employed nearly 2,000 staff, but these are not included in the deal.

Peterborough-based AK Retail Holdings also owns menswear line BadRhino, womenswear retailer Long Tall Sally and maternity brand Bump It Up Maternity.

Several senior figures at M&Co, including the chief financial officer, left the business last month

Teneo does not anticipate receiving bids for the business as a going concern.

M&Co first went into administration in 2020 but was bought back by its Scottish owners, the McGeoch family, before collapsing again late last year.

It traces its roots to 1834 and became Mackays Stores in 1953 before being rebranded as M&Co in 2005.

Announcing the purchase of the M&Co brand from the administrators, Andrew Killingsworth, chief executive of AK Retail, said: “I am delighted that this longstanding brand would be kept alive.”

The purchase is the latest expansion for AK Retail, which two years ago snapped up the women’s speciality retailer Long Tall Sally in a move that created 30 jobs.

Last May, AK Retail also bought an online clothing store PixieGirl.

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