To the relief of those living in Scotland, M&Co has announced that its long-established
store in Oban, along with 200 other shops, is going to be saved. The retailer
has been serving people there for more than 17 years.
Nonetheless, the coronavirus lockdown was not kind to the
firm. In April, it appointed administrators which led to its estate being
reduced from 265 to 218 stores. There will be 380 redundancies from a workforce
of over 2,600. However, as part of a restructuring
exercise that saved more than 2,200 jobs across the UK, the Oban store will
keep operating. M&Co’s chief executive Andy McGeoch said that the best way
to save most jobs and stores was to enter administration and have a new
company acquiring the assets of the old business. This process has not been
finalised.
He further advanced, “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”.
Nonetheless, the firm said that it has received tremendous
support from customers during this difficult time. In a recent Sunday Times
survey, M&Co
was voted 14th ‘best large company’ to work for in the UK.
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