M&Co stores across Derbyshire set to close as high street chain shuts all branches nationwide

The Scottish chain was bought by AK Retail after being put into administration for the second time in December. However, it has now been confirmed the deal did not include the stores or staff – meaning all branches will close down at Easter.

This will affect employees at the company’s Matlock, Belper and Ashbourne stores – with 170 branches set to close and 2,000 jobs being lost nationwide.

The closures were announced on social media by branches across the UK. In a post, they wrote: “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.

“As we haven’t received any funded, 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 all of our stores until Easter, and then begin the close down process.”

M&Co, previously known as Mackays, is said to have started as a pawnbroker in Paisley, Renfrewshire, in the 19th century, but switched to selling clothes in the 1950s.

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The company rebranded as M&Co in 2005, and has become one of many high street casualties since the start of the pandemic – along with Dorothy Perkins, Miss Selfridge and Topshop. According to BBC News, the first year of Covid-19 saw the chain’s turnover down from £200m to below £50m.