M&Co plunges into administration – Retail Gazette

M&Co plunges into administration
M&Co has hired Teneo as directors
// M&Co has hired Teneo as administrators as it collapses for the second time in just more than a yr
// Teneo is exploring a sale of the 180 retail outlet value vogue retailer

M&Co has collapsed into administration as rising expenses have pushed it more than the brink.

The price vogue retailer, which has about 180 Uk retailers, has appointed Teneo Financial Advisory as administrator, which is checking out a sale of the company.

A spokesman for Teneo explained to Drapers: “Like a lot of suppliers, the company has expert a sharp rise in its enter charges, which has coincided with a decline in client assurance foremost to elevated pressure on cash flows and investing losses.

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“No immediate redundancies have been built and the joint directors are exploring a likely sale of the organization in an accelerated timeframe, through which time the firm will keep on to trade from its shops and site.”

M&Co fell into administration in August 2020, when it was acquired again by its Scottish owners the McGeoch household in a pre-pack deal that saw it shut 47 suppliers.

In excess of the earlier 7 days, the retailer has shut two merchants in Dorchester in Dorset and Droitwich, Worcestershire.

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Latoyia Bugtong

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