Jobs at risk at Christchurch and Ringwood M&Co stores as administrators called in

JOBS are at risk at two local fashion stores after a chain went into administration.

The M&Co branches in Christchurch and Ringwood are among about 170 UK-wide under threat with nearly 2,000 employees now facing an uncertain Christmas.

The Scottish company called in administrators Teneo on Friday.

No redundancies have yet been made, and the branches are expected to remain open while negotiations continue.

Gavin Park, joint administrator at 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 spokesperson added: "No immediate redundancies have been made and the joint administrators are now 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."

The Scottish company called in administrators during the Covid pandemic in 2020.

It was bought back by its founders, the McGeoch family, and saw the closure of 47 branches and 381 jobs lost.

Two stores in Dorchester and Droitwich closed over the past two weeks.