M&Co is closing 47 stores across the UK after securing over 2,000 jobs following a financial restructuring. The Glasgow-based business has been sold in a pre-pack administration deal, which will see the assets in the company sold back to the original founding family, the McGeouch's.
Although the move will secure the future of over 200 M&Co stores and 2,600 employees, 380 jobs will be lost. There are 262 M&Co stores across the UK and the majority of these reopened once lockdown restrictions were eased for non-essential shops in Scotland and England in June.
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