M&Co Retail Chain to Dissolve After 2023 Collapse

The historic Scottish fashion chain M&Co Corp. will be officially dissolved in September 2026 following its collapse into administration in spring 2023. The failure resulted in the closure of all 168 brick-and-mortar stores across the United Kingdom and the loss of 1,800 jobs.

At the time of its collapse, the company owed more than £46 million. Documents from administrators at Teneo reveal that over 600 unsecured creditors face losses exceeding £33 million. While secured creditors such as HUK and Chicken were repaid in full, non-preferential unsecured creditors received a dividend rate of only 2.32p in the pound via an £800,000 prescribed part fund distributed on March 9, 2026.

Teneo attributed the collapse to a slow post-pandemic recovery in retail sales, high inflation, and a cost-of-living crisis that altered consumer behavior. The company had struggled with liquidity for some time, accumulating £12 million in overdue supplier payments by November 2022. This was the second time the company entered administration, having previously done so during the pandemic before being bought back by its founding family.

Although the physical stores closed, AK Retail Holdings Limited, the owner of Yours Clothing, acquired the M&Co brand and its online offering for £2.5 million. The case transitioned from administration to dissolution in June 2026.