Yours Clothing owner buys M&Co brand out of administration

The Peterborough-based group also owns menswear line BadRhino, womenswear retailer Long Tall Sally and maternity brand Bump It Up Maternity.

M&Co collapsed into administration on 9 December and Teneo Financial Advisory was appointed as administrators of the business.

Several senior staff members at M&Co, including the chief financial officer, left the business last month in a wave of redundancies at the retailer. It is understood that, .should a buyer not be found for the physical stores, staff employed at those sites will also face redundancy.

Teneo does not anticipate to receive bids for the business as a going concern.

At the time of administration, the retailer had 170 stores across the UK and employed 1,910 staff.

The retailer had experienced a sharp rise in its input costs, which coincided with a decline in consumer confidence leading to increased pressure on cash flows and trading losses, according to Teneo.