It’s the final few days of trading this week for M&Co in Wokingham as the store is due to closed its doors for the last time next weekend.
The clothing chain announced all of its 170 stores were going to close at the end of last year – including here in Berkshire as well as across the borders in Henley and Marlow.
The Scottish company, which was formerly known as Mackays, appointed administrators at the end of last year.
In a statement, the company said: “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 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 will 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.”
Administrators blame M&Co’s collapse on the sharp increase in costs and lower sales caused by tighter household budgets.
2022 was not the first time M&Co found itself in this position, after the chain previously went into administration in 2020, when it lost 47 stores and 380 staff. At the time, assets were immediately bought back by the family that built it up.
Photos by My Wokingham’s Paul King