M&Co to shut 47 stores and shed 380 jobs in business shake-up

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One of Scotland's biggest family-owned retailers is to close 47 stores and shed 380 jobs as part of a major shake-up it said will secure the company's long-term future.

The firm, which appointed Deloitte as administrators in April, believes its smaller network of high street-based stores will strengthen its position,"with the coronavirus outbreak reducing appetites to travel longer distances on public transport".

Chief executive Andy McGeoch said the company took a"huge financial hit" after having to shut its stores in March due to theHe said:"We reopened most stores in June and have been exploring every possible option, but it was obvious that the business, as previously structured, would remain under severe pressure from the ongoing challenges of COVID-19.

Mr McGeoch said staff in stores and at its Glasgow and London headquarters will be affected by the job cuts.

 

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Reality is setting in, those idiots that were saying they wanted an indefinite lockdown didn’t seem to be able to see past a taxpayer funded summer holiday now they have condemned most of themselves to poverty Now they’ll start moaning when we should’ve been awake 100 days ago

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