M&Co rescued by Yours Clothing owner AK Retail
Scottish clothing chain M&Co, which collapsed into administration two months ago, has been purchased by Peterborough-based company AK Retail.
AK Retail, which owns Yours Clothing, BadRhino, Long Tall Sally, and Pixiegirl, has bought the well-known clothing chain for an undisclosed amount. The company, which is owned by Andrew Killingsworth, has finalised the deal that comes after several years of turmoil for the 189-year-old business.
The retailer was founded in 1834 and became Mackays Stores in 1953, later rebranding as M&Co in 2005. In 2020, it first went into administration but was bought back by its Scottish owners the McGeoch family.
In December 2022, M&Co once again collapsed into administration after costs soared for the business. The company appointed administrators from the financial advisory firm Teneo, with the aim of pursuing a sale “in an accelerated timeframe", which was achieved with the help of AK Retail.
Andrew Killingsworth, Chief Executive of AK Retail, commented: “I am delighted that this longstanding brand would be kept alive.”
This is the latest acquisition in AK Retail’s expansion. Two years ago the company purchased the women’s specialty business Long Tall Sally and the online clothing store PixieGirl in May 2022. AK Retail recently reported 2022 sales were up 56% and gross profit was up 60%.