M&Co is set to close all of its 170 stores in 2023, with the loss of almost 2,000 jobs. The Renfrewshire-based clothes retailer, which used to be known as Mackays, is one of Scotland’s most well-known clothing brands. The company appointed administrators for a second time at the end of last year after collapsing in 2020. M&Co has now been bought by AK Retail Holdings, also the owner of plus size retailer Yours Clothing, but the purchase only included the brand and not the physical stores which will down shutters for good at Easter. The closures were announced in Facebook posts by shops across the UK. They read: "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." Mackays was established in Renfrewshire in 1834 and was originally a pawnbroker. The brand started selling clothes in 1953 before rebranding as M&Co in 2005. M&Co is one of many high street casualties 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.
