Congleton: M&Co go into administration and begin closing stores
By Alex Greensmith 12th Dec 2022
A Congleton clothing shop could be set to close as their parent company is going under.
M&Co Congleton, tucked away on the pedestrian only-street of the Bridestone Shopping Centre, have gone into administration.
The privately-owned UK chain has blamed increasing costs and decreasing customer confidence for their downfall.
The immediate future of the Congleton store - and that in nearby Sandbach - remains unknown.
The news was confirmed over the weekend thanks to business publication Drapers.
The fashion retailer has already closed stores in Dorset and Worcestershire over the past week.
Gavin Park, Adele MacLeod and Rob Harding of Teneo Financial Advisory Limited have been appointed as Joint Administrators for the Scottish-headquartered company.
They have over 170 stores across the UK and employ 1910 staff.
Gavin Park, Joint Administrator said "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 trading challenges.
"Despite a very loyal customer base, particularly in local markets, and a well-recognised brand, the current economic outlook has placed increasing pressure on the Company's cash position."
No redundancies have been made on Monday, December 12 as of 11am.
M&Co have been contacted for comment by Nub News.
In a statement they said: "The Joint Administrators are now 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."
The Congleton store
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