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Edinburgh Live
Edinburgh Live
National
Thomas Durham & Kris Gourlay

Scottish clothing firm M&Co enters administration as East Lothian stores at risk

Scottish clothing retailer M&Co have entered administration as multiple East Lothian stores have been put at risk of closing.

The firm, who currently own branches in Haddington and Musselburgh as well as a recently closed store in Dalkeith, have hired three representatives from Teneo Financial Advisory Limited following a period of 'difficulty'.

Teneo has insisted that no jobs will be lost immediately, reports Aberdeen Live, and both the company's 45 Scottish stores and its website will continue trading.

READ MORE: Scottish hairdresser feared losing her home after she was slapped £72,000 energy bill

M&Co was recently put up for sale in 2020 when it was bought back by its Scottish owners the McGeoch family in a pre-pack deal that saw it close 47 stores and cut over 300 jobs.

At present, the clothing firm own around 180 stores nationwide, many serving as long-standing fixtures of local high streets.

A spokesman for Teneo told Drapers, who originally broke the news: "Like many retailers, the company has experienced a sharp rise in its input costs, which has coincided with a decline in consumer confidence leading to increased pressure on cash flows and trading losses.

"No immediate redundancies have been made and the joint administrators are exploring a potential sale of the business in an accelerated timeframe, during which time the company will continue to trade from its stores and website."

According to reports, M&Co's Dalkeith branch recently closed down, with a note on the door directing customers to Haddington as their nearest store.

The company was first established in 1834 as a pawnbrokers in Paisley by the McGeochs before switching to selling clothes in the 1950s. Its stores were rebranded as M&Co in 2003 in a bid to attract a younger, more modern clientele. The company remains locally headquartered, in Inchinnan near Renfrew.

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