Elgin store spared in M&Co restructure
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CLOTHING retailer M&Co is to keep its Elgin branch open after the firm announced a plan to close 47 UK stores.
The company will see its estate reduced from 265 to 218 stores, with around 380 redundancies from a total workforce of more than 2,600.
M&Co hopes to strengthen its position with a reduced network of stores by focusing on local high streets.
However, a spokesperson for the company said the Elgin High Street shop would not be entirely unaffected by the changes, as its kids department will close.
No jobs will be affected.
The spokesperson said: "I can confirm that the kids department is closing. However, no jobs are at risk, and the store itself will remain open."
M&Co, founded in 1961 and formerly known as Mackays, has had a presence in Elgin for 35 years.
It appointed administrators in April as the coronavirus outbreak forced the closure of most UK retailers for almost four months.
M&Co chief executive Andy McGeoch said: "It quickly became clear that best way to save most jobs and most stores was to enter administration, with a new company acquiring the assets of the old business, and this process has now been finalised.
"Covid has been by far the biggest challenge our family business has faced in almost 60 years, and I am really pleased that we have been able to maintain a presence in over 200 communities.
"Covid-19 means many people don’t feel comfortable travelling on public transport or visiting busy city centres and that can be good news for local high-street stores like M&Co.
"That’s why we are looking at ways of working in partnership with other local retailers to highlight the tremendous range of shopping that can be found in communities like this all over the country."
He added: "Local economies rely to a huge degree on their town centres and we have seen too many high streets hollowed out by successive shop closures. More and more people are beginning to realise that, if they don’t support their town centres, everyone’s quality of living really takes a hit, so we are proud to be playing a part in the drive to shop locally."
