M&Co Trading Limited
M&Co
TypePrivate
IndustryRetail
Founded1834 (1834)
FounderNeil McGeoch (pawnbroker)
Len and Iain McGeoch (clothing)
DefunctApril 2023 (April 2023) (as a standalone store)
HeadquartersInchinnan, Scotland, UK
Area served
United Kingdom
Continental Europe
Middle East
Key people
Andy McGeoch
(Chief Executive Officer)[1]
RevenueIncrease£193 million (2019)[2]
Decrease£(106,000) (2019)[2]
Decrease£(888,000) (2019)[2]
OwnerIain McGeoch (90%)
Number of employees
3900+ [3] (2019)
Websitewww.mandco.com

M&Co Trading Limited, previously Mackays Stores Limited until its 2020 administration, (previously trading as Mackays, now trading as M&Co.) is a Scottish 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]

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.

History

M&Co shop in Wetherby, Yorkshire

19th century

In 1834, the McGeoch family founded a pawnbroker business in Paisley, Renfrewshire.

20th century

In 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

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]

M&Co shop in a mall in Dubai, UAE

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

References

  1. ↑ Nickalls, Amy (6 November 2017). "M&Co to open the store in Hempstead Valley this weekend". kentonline.co.uk. Retrieved 7 November 2017.
  2. 1 2 3 "Company Accounts 2019". Retrieved 27 June 2019.
  3. 1 2 "Company History – M&Co". Retrieved 15 February 2014.
  4. ↑ "Contact Us". M&Co. Retrieved 1 February 2012. M&Co Web Team Caledonia House 5 Inchinnan Drive Inchinnan Business Park Inchinnan Renfrew PA4 9AF
  5. ↑ "M&Co. – 20 Conduit Place, Paddington, London, W2 1HS". Retrieved 15 February 2014.
  6. ↑ "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
  7. 1 2 "Mackays revamp pays off Clothing empire records seventh consecutive year of rising profits". The Herald. Newsquest Media Group. 21 July 2006.
  8. ↑ "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.
  9. ↑ "Co-founder Iain McGeoch hands over reins at M&Co". The Scotsman. JPIMedia Publishing Ltd. 19 September 2015.
  10. ↑ Northrop, Alasdair (2 March 2009). "THE BIG PROFILE: Twenty years at the top". Insider. Insider Publications Ltd.
  11. ↑ 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.
  12. ↑ Marc-Christian Riebe Retail Market Study 2013, p. 407, at Google Books
  13. ↑ Kleinman, Mark (30 June 2020). "Coronavirus: Fashion retailer M&Co hunts new backers amid sales slump". Sky News. Retrieved 2 July 2020.
  14. ↑ Goldfingle, Gemma (10 December 2022). "M&Co plunges into administration - Retail Gazette". www.retailgazette.co.uk. Retrieved 10 December 2022.
  15. ↑ Fraser, Douglas (6 February 2023). "M&Co: Renfrewshire clothing chain to close all 170 stores". www.bbc.co.uk. Retrieved 6 February 2023.
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