THE future of a Stroud clothing shop is unclear as the company has gone into administration.
M&Co, which has an outlet in the town centre, has gone into administration after a ‘sharp rise in costs’.
Gavin Park, Adele MacLeod and Rob Harding of Teneo Restructuring were appointed Joint Administrators of the Companies on December 9.
The affairs, business and property of the Company are being managed by the Joint Administrators.
A spokesman for administrators Teneo Financial Advisory Limited, told fashion business magazine Drapers: “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.”
Other M&Co shops across the UK have already closed down in recent weeks.
It is unclear at this stage what the future holds for the Stroud branch.