M & Co has confirmed no buyer has come forward to help the ailing clothing stores business meaning Monmouth will bid a permanent farewell to the high street store

The Scottish clothing retailer appointed administrators in December last year 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 had hoped to pursue a sale “in an accelerated timeframe” however no-one has come forward meaning all the clothes stores will close this spring with the loss of around 2,000 jobs across the country.

It’s the second of the big clothing giants to leave Monnow Street, with Peacocks closing due to a major fire in May 2022.

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

However today all hopes the stores could be transferred to another business were dashed with the announcement all 170 stores will close at Easter.