Hunstanton: M&Co in the High Street is closing down

Scottish-based retailer M&Co entered administration on Friday, December 9, for the second time in two years.

The chain, which has stores in Cromer, Diss, Hunstanton, Fakenham and Attleborough, said in a social media post: "We are hoping for a positive outcome and that our lovely shops will be saved.

"We will be doing our best to keep a positive shopping environment for all our customers and despite the circumstances, we remain positive."

M&Co in Hunstanton, which is closing down (Image: Chris Bishop)

But signs announcing a closing down sale have gone up in the branch in Hunstanton High Street.

They do not say when the the branch will close for the final time. Staff are understood to have learned of the administration on Friday and have not been told how long the doors will remain open.

A notice from receivers Teneo posted in the window said it was now managing the business's affairs.

A notice posted in the window at M&Co in Hunstanton by the receiversn (Image: Chris Bishop)

M&Co is one of the UK’s largest privately-owned fashion and lifestyle retailers with 170 stores across the UK employing 1,910 staff.

Gavin Park, joint administrator for Teneo, 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.”

A closing down sale in the window of M&Co in Hunstanton (Image: Chris Bishop)

Teneo said no immediate redundancies have been made and the administrators are "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.

A spokesman said he could comment on individual stores, such as M&Co's other branches in Norfolk.

Launched as clothing store Mackays in 1953, the company was re-branded as M&Co in 2005.

The company appointed administrators in April as the coronavirus outbreak forced the closure of 47 stores but its Norfolk outlets survived the pandemic.