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Insider UK
Insider UK
Business
Ken Symon

Eight stores from failed M&Co retail chain portfolio to go up for auction next week

Eight stores from Glasgow-based retailer M&Co's portfolio are to be sold in an online auction next week.

The stores which have guide prices ranging from £50,000 to £175,000 are being sold at the Acuitus auction on 23 September.

They are part of the chain store group which has recently been through a pre-pack administration which restructured the business.

The stores being sold are located across Scotland in locations including Peebles, Nairn and Thurso.

M&Co sells women's, men's and children's clothes as well as homeware products.

Mhairi Archibald of Acuitus said: “Following the restructuring exercise, M&Co. have continued to trade from seven of the stores whilst the other one is being sold with vacant possession”.

Bids for the properties can be submitted online, by telephone or by submitting a written bid prior to the auction.

The properties are in High Street in Nairn, Rotterdam Street in Thurso, Dockhead Street in Saltcoats, High Street in Wick, High Street in Hawick, Main Street in Wishaw, Channel Street in Galashiels and Dalrymple Street in Girvan.

M&Co owner Meridian Realisations was put into administration last month before most of its assets were bought back in a pre-pack deal.

The move led to the group's UK-wide store estate being reduced from 265 to 218, while 380 people were made redundant, leaving a workforce in the remaining group of about 2,200.

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