Update on M&Co in King Street, Stroud amid closing sale sign

AN UPDATE was provided from M&Co in Stroud amid a sign saying closing appearing in the shop. 

Earlier this week the SNJ reported how the future of the retail shop in the town centre was unclear as the company went into administration. 

A 50 per cent off closing sale sign was put in the window yesterday, Tuesday, however the team at M&Co in Stroud last night provided an update on the situation at this branch. 

Stroud News and Journal:

“To all our amazing customers, you may or may not have heard the sad news that M&Co have entered into administration,” read the Facebook post. 

“We really do love being on your Stroud High Street and we really hope that our Stroud store along with all other stores will be saved.

“In the meantime we remain open & trading..pop into our M&Co store in Stroud & grab some bargains for all the family.

“Thank you all so much for your continued support.

“Love from all the Team at M&Co in Stroud.”

 

M&Co went  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.”

 

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