M&Co stores in Tenterden, Deal and Faversham to close
Published: 11:38, 04 January 2023
Updated: 14:05, 04 January 2023
The future of three Kent shops has been confirmed after a fashion retailer fell into administration for the second time in two years.
M&Co, which has shops in Tenterden, Faversham, Sittingbourne, Whitstable and Deal, has struggled in the face of trading challenges and rising costs.
Last month, it was confirmed that the company had called administrators in and the future of its stores was put at risk.
Closing down signs were placed in the windows of the Tenterden and Faversham branches. It has now been confirmed Deal will also close.
One poster, placed in the Tenterden shop, reads: "All stock reduced. Store closing. Everything must go."
Bosses at that branch however are still hoping the shop can be saved.
A post on the M&Co (Tenterden) Facebook page reads: "We are hoping for a positive outcome and that our lovely shops will be saved but in the mean time there are a few things we would like our customers to be aware of.
"Currently we are unable to process refunds back to original payment, we can exchange only any goods for the same value or above.
"We are currently not scanning loyalty cards to add points and we cannot accept reward vouchers.
"We will be doing our best to keep a positive shopping environment for all our customers and despite the circumstances we remain positive!"
The chairman of Tenterden & District Chamber of Commerce, Terry Thorpe, hopes the site will be filled after M&Co closes.
"As with any closure on the high street it's not good news," he said.
"But I think in the current climate we have to get used to it.
"I don't think M&Co will necessarily be the last to close in the high street because I think in the next three to six months, things are going to be very tough.
"I was not shocked or surprised when I heard the news of M&Co, but I was disappointed.
"It's something we're going to have to become accustomed to."
Closure dates for the Tenterden, Deal and Faversham stores have not yet been confirmed.
The future of the Sittingbourne and Whitstable stores are unclear.
The Renfrewshire-based company, which used to be known as Mackays Stores Limited, is a Scottish chain store which was founded in 1834, with the first shop opening in 1969.
It sells clothing for all ages, as well as homewear.
M&Co has struggled previously, last collapsing in 2020. However, assets were quickly bought back by the family who own the company.
It is understood the latest decision to place M&Co into administration will put thousands of jobs at risk.
Speaking last month, joint administrator Gavin Park 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.”
M&Co press office has been contacted for comment.
Read more
Business News Deal Eat Shop Drink Faversham Human Interest Kent Retail & Wholesale Sittingbourne Tenterden WhitstableMore by this author
Chantal Weller