M&Co has collapsed into administration, it has been revealed.
It comes six days after its Penrith branch closed unexpectedly with a handwritten sign saying ‘store closed’ in the doorway and its stock and fixtures and fittings being stripped.
The company did not respond to our request for a comment on the day of the closure at the New Squares store.
Today, the firm has announced that it went into administration on Friday.
The company was founded in 1961 and had around 180 stores across the UK. Teneo Financial Advisory has been appointed as administrator.
It said no immediate redundancies had been made and it was exploring a potential sale of the business – and that it would continue trading in the meantime.
