Monmouth’s high street has lost another major clothing company with the collapse this week of M&Co.

The Scottish clothing retailer has appointed administrators to become the latest in a string of high street retailers to enter administration after being hit by rising costs and a drop-off in demand. The fashion and homeware chain, which has 170 stores across the UK, said it hopes to pursue a sale “in an accelerated timeframe”.

Although the administrators stressed that “no immediate” redundancies had been made among M&Co’s 1,910 staff, the Beacon has heard of one employee being made redundant as the store closed its doors last week.

It’s the second of the big clothing giants to leave Monnow Street this year, with Peacocks closing due to a major fire in May.

Previously known as Mackays, M&Co collapsed in 2020 but assets were immediately bought back by the McGeoch family that built it up.

Sherren McCabe-Finlayson, Chair of the Chamber of Commerce said:” The Chamber was saddened to see the loss of another longstanding Monmouth retailer. It is an extremely difficult time for all businesses, please continue to shop local and support your town businesses this Christmas and throughout 2023.” The Beacon has contacted M&Co for comment.