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M&Co Trading Limited, trading as M&Co.) is a Scottish online retailer and former high street chain store selling women's, men's, and children's clothes, as well as small homeware products. Its head office is in Inchinnan, Scotland,[4] though its main buying office is in London.[3][5] Previously, its head office was at Caledonia House in Paisley.[6] The company previously operated as Mackays Stores Limited until its 2020 administration, previously trading as Mackays.
 | |
| M&Co | |
| Company type | Private |
| Industry | Retail |
| Founded | 1834 (high street) April 2023 (online) |
| Founder | Neil McGeoch (pawnbroker) Len and Iain McGeoch (clothing) |
| Defunct | April 2023 (as a standalone store) |
| Headquarters | Inchinnan, Scotland, UK |
Area served | United Kingdom Continental Europe Middle East |
Key people | Andy McGeoch (Chief Executive Officer)[1] |
| Revenue |  £193 million (2019)[2] |
 £(106,000) (2019)[2] | |
| £(888,000) (2019)[2] | |
| Owner | Iain McGeoch (90%) |
Number of employees | 3900+ [3] (2019) |
| Website | www |
Established in 1834 as pawnbrokers, Mackays switched to selling clothes in 1953 by brothers Len and Iain McGeoch. In 2005 the company rebranded as M&Co. to reflect a more modern image.[7] The chain operates over 300 stores and also has an online presence.[8]
M&Co. closed all of its stores in April 2023 and moved to a sole online company.
History
edit19th century
editIn 1834, the McGeoch family founded a pawnbroker business in Paisley, Renfrewshire.[citation needed]
20th century
editIn 1953, Len and Iain McGeoch began converting their six pawnshops to clothing stores.[9] In 1970, the company acquired Ghinns Ltd., extending its retail clothing business in the London area.[10] In 1986, the company acquired Apparel Affiliates Inc., owner of 140 retail clothing stores in the United States.[11]
21st century
edit
In 2005, the company began converting all 270 of its stores to the M&Co. banner.[7]
In March 2012, the first of several international franchise stores opened, beginning with the first of many in Dubai at the Dubai Mall, with further UAE expansion planned.[12]
In June 2020, during the COVID-19 pandemic in the United Kingdom, M&Co was reported to have sought new backers amid a slump in sales. Professional services firm Deloitte supported its hunt for new investors as the company explored sale options including a pre-pack administration.[13]
In December 2022, M&Co went into administration with Teneo Financial Advisory as administrators.[14]
On 6 February 2023, it was announced that M&Co would be closing all 170 stores in the spring of the same year, with the last of them closing by the end of April 2023.[15]
See also
editReferences
edit- ^ Nickalls, Amy (6 November 2017). "M&Co to open the store in Hempstead Valley this weekend". kentonline.co.uk. Retrieved 7 November 2017.
- ^ a b c "Company Accounts 2019". Retrieved 27 June 2019.
- ^ a b "Company History – M&Co". Retrieved 15 February 2014.
- ^ "Contact Us". M&Co. Retrieved 1 February 2012.
M&Co Web Team Caledonia House 5 Inchinnan Drive Inchinnan Business Park Inchinnan Renfrew PA4 9AF
- ^ "M&Co. – 20 Conduit Place, Paddington, London, W2 1HS". Retrieved 15 February 2014.
- ^ "Contact Us". Mackays Stores. Archived from the original on 29 April 2005. Retrieved 1 February 2012.
Mackays Stores Ltd Caledonia House, Caledonia Street, Paisley, PA3 2JP
- ^ a b "Mackays revamp pays off Clothing empire records seventh consecutive year of rising profits". The Herald. Newsquest Media Group. 21 July 2006.
- ^ "Congratulations to M&Co who have risen 349 places in the retail Top 500 websites ranking". tryzens.com. 13 February 2015. Retrieved 7 November 2017.
- ^ "Co-founder Iain McGeoch hands over reins at M&Co". The Scotsman. JPIMedia Publishing Ltd. 19 September 2015.
- ^ Northrop, Alasdair (2 March 2009). "THE BIG PROFILE: Twenty years at the top". Insider. Insider Publications Ltd.
- ^ Funk, Nancy M. (December 13, 1989). "Quakertown Retailer Seeks Chapter 11 Apparel Affiliates To Close Lady Bug, Paraphernalia Chains, Most Corner Houses". The Morning Call. Allentown, Pennsylvania: Times Mirror Company. Retrieved 2022-01-06.
- ^ Marc-Christian Riebe Retail Market Study 2013, p. 407, at Google Books
- ^ Kleinman, Mark (30 June 2020). "Coronavirus: Fashion retailer M&Co hunts new backers amid sales slump". Sky News. Retrieved 2 July 2020.
- ^ Goldfingle, Gemma (10 December 2022). "M&Co plunges into administration - Retail Gazette". www.retailgazette.co.uk. Retrieved 10 December 2022.
- ^ Fraser, Douglas (6 February 2023). "M&Co: Renfrewshire clothing chain to close all 170 stores". www.bbc.co.uk. Retrieved 6 February 2023.
External links
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