Women’s fashion retailer, M&Co announced they had gone into administration on Friday December 9.
Teneo Financial Advisory has been appointed joint administrators to the group which currently employs 1,910 staff and has 170 shops across the UK.
A spokesman for Teneo has blamed rising costs and a decline in consumer confidence. The joint administrators are exploring a potential sale of the business while the company will continue to trade.
to all our amazing customers, not an easy message to convey..
M&Co in Sleaford has been in the town for decades. It issued a statement on its Facebook page to customers saying: “We are hoping for a positive outcome and that our lovely shops will be saved.”
They said they were unable to process refunds and only exchange only goods for the same value or above, while also being unable to scan loyalty cards.
They added: “We will be doing our best to keep a positive shopping environment for all our customers and despite the circumstances we remain positive!
“We hope to see many shoppers about over the Christmas period and will do our best to help.”
The message has received almost 200 messages of support.
Previously known as Mackays, the firm restructured in an administration deal in August 2020.