M&CO Trading Limited (SC662082): administration
- Status
- Administration ended
- Administration began
- 2022-12-09
- Administrators
- Gavin George Scott Park, Adele Macleod, Robert James Harding
- Administrators' firm
- Teneo
- Incorporated
- 2020-05-26
- Location
- Edinburgh
- Industry
- 47710 Retail sale of clothing in specialised stores
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
- COVID-19
- Rising costs / inflation
- Cash flow / liquidity pressure
From the administrators' statement
Following the Transaction which took place during the Pandemic, and in common with other retailers, the Company has suffered as a result of a drawn-out recovery in retail sales in the post pandemic period. In the months prior to administration, the deterioration in trading performance has been compounded by high inflation increasing the Company's cost base, and a cost-ofliving crisis impacting consumer behaviour.
In early November 2022, the Company had £12 million of overdue supplier payments.
Steps taken to remedy/turnaround
Administrators' statement of proposals (2023-02-01) · Companies House register