Town centre braces for huge M&Co blow
The closing down posters have been in the window of the giant Welshpool store since the company went into administration in December, but there was hope that a new buyer could be found to save the brand and its 170 shops.
While that buyer has now been found, there was a worrying update posted to the M&Co Oswestry store sharing the news we have been dreading.
“Sadly, we received the news that although the M&Co brand name has been bought by A K Retail, none of our lovely shops will be saved,” it said.
“We are all devastated by this news, but will continue to work together to bring our shop to a close.
“We haven’t been given an official date yet, but around Easter is our estimate.
“We continue to receive deliveries as the business clears the warehouse and we are even receiving some new Spring lines in, still at fab 30% discount. We hope to see you all over the next few weeks and we are so thankful for all the support you have been giving us since we entered administration in December.
“Please note, we will still accept Gift Cards but this will stop on Saturday so please come in and spend them this week. Much love.”
But AK Retail said it was still “considering all options”.
The Peterborough company, owners of Yours Clothing, BadRhino, Long Tall Sally and Pixiegirl, last week announced that it had purchased the M&Co brand from the administrators for an undisclosed sum.
The company has stated: “M&Co was put into administration for the second time in December. Chief executive Andrew Killingsworth said that he is delighted that this longstanding brand would be kept alive.
“At the moment we are considering all options as we continue to work with our online, third party partners and others.”
The closure of M&Co would deliver another huge blow to a struggling town centre that has been rocked by the closures of WH Smith, HSBC, Barclays, Savers, and Lloyds in the past year alone.
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