Struggling M&Co set to close all stores at Easter
Clothing retailer M&Co is set to close all 170 of its stores in spring, including the outlet based on Market Place in Driffield, leaving a big hole in the Capital of the Wolds’ high street and all members of staff losing their jobs.
The Scottish-based company has been a fixture in Driffield town centre for around two decades and occupies one of the largest retail properties.
M&Co appointed administrators for a second time at the end of 2022 after previously collapsing in 2020 after falling into financial difficulty.
After its latest move into administration, the M&Co brand has been purchased by AK Retail Holdings, however, the buyout does not include the physical stores.
Reports suggest that all stores, including Driffield, will close for the final time at Easter, which this year falls over the weekend of 7th – 9th April.
Although the Driffield store has yet to confirm its closure on the branch’s Facebook page, several others, including Bridlington, have issued a statement.
“Unfortunately, we haven’t received the news we would have hoped for during our administration period and would like to share this news with you,” said the posts.
“As we haven’t received any funding, deliverable offers that would result in the transfer of the company’s stores or staff to a potential buyer, this means that all of our stores will close.
“The M&Co brand has been purchased, but unfortunately this does not include a future for our stores, website or staff.
“We will trade potentially until Easter, and then begin the close down process. We will update you closer to the time of our actual closing date.
“We hope you appreciate this is also a very difficult time for staff working in the stores and we ask for respect and understanding when raising an issue.
“We thank you all for your continuous support and we hope to see you all over the next couple of months.”
The Wolds Weekly contacted M&Co and its administrator Teneo for confirmation of the closure.
However, at the time of going to press, we had yet to receive a response.
M&Co was established in 1834 as pawnbroker Mackays and switched to selling clothes in 1953.
It was rebranded as M&Co in 2005. M&Co fell into administration in 2020 and closed 47 stores. The Driffield outlet survived the cull two years ago as M&Co’s assets were bought back by the family that built it up.
AK Retail Holdings, which has bought M&Co, is the owner of plus-size retailer Yours Clothing.
