- Eight M&Co stores will close permanently tomorrow, joined by two M&S sites
Shoppers will be hit with another blow this weekend after two major retailers announced they were closing 10 stores forever tomorrow.
Fashion giant M&Co will cut eight of its sites in Cheshire, Kent, Surrey, Suffolk, Lincolnshire and Scotland on Saturday.
It’s part of the latest round of closures after the company announced in February that it would close its 170 stores, putting 1,910 jobs at risk.
And in a double whammy for Britain’s beleaguered high streets, upmarket Marks and Spencer store will also close two of its locations tomorrow.
The news comes amid a slump in British retail, which has seen big companies such as B&M, Argos and H&M announce closures in 2023.
Full list of store closures this weekend
Marks & Spencer:
- Middlesbrough – April 15
- Bolton – April 15
The latest victims to close on April 15 include M&Co outlets in Congleton, Egham, Faversham, Haverhill, Orkney, Peterhead, Sleaford and Sudbury.
As M&S permanently close two of its stores tomorrow – its branch in Linthorpe Road, Middlesbrough, and its store in Deansgate, Bolton, The Sun reported.
The country’s high streets have taken a beating in recent months, with a double whammy from the coronavirus and skyrocketing energy bills taking a heavy toll on struggling businesses.
As well as retailers closing stores, food and drink chains have also taken a hammer blow, with Wetherspoons and Frankie & Benny’s announcing closures.
With shoppers hit by soaring costs, many are now spending less money on non-essential items to lower their weekly bills.
The growing popularity of online shopping and delivery has also led to a drop in footfall on UK high streets, putting even more pressure on retailers.
After falling into administration last year, M&Co announced it would ax all of its 170 stores.
Bankrupt company put up for sale by administrators Teneo, a spokesperson for Teneo had previously confirmed the sale of the M&Co brand and intellectual property to Yours Clothing but not the stores.
The Peterborough-based group also own menswear line BadRhino, womenswear retailer Long Tall Sally and maternity brand Bump It Up Maternity.
The company previously known as Mackay’s fell into administration on December 9, for the second time in just two years.
READ MORE: High street retailer reveals where stores will close in days as all 170 UK stores are set to disappear
Teneo attributes M&Co’s collapse to sharply rising costs, while tight household budgets have also reduced the number of sales.
At the time of M&Co administration, online clothing is 50% off, while in-store items are 25% off promotions.
Industry experts also said at the time that M&Co had not attracted high street players such as Frasers, Next and Marks & Spencer, which have recently taken on bankrupt retailers.
Meanwhile, M&S has already closed several branches, including stores in London and Edinburgh.
It comes as the company announced plans to close 67 stores over the next five years.
However, it’s not all bleak, as the company also plans to open 104 new “bigger and fresher” grocery stores.
This will include 20 stores across the UK this year, including in Leeds, Liverpool, Birmingham and Manchester.
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