The fashion brand M&Co have announced that they have gone into administration a matter of weeks after their Stamford store opened its doors for the first time.

This is the second time that the retailer have fallen into administration, previously filing in August 2020, reporting Covid-19 as a main reason for the collapse.

The administration was announced on Friday 9 December which, with the Stamford store opening on November 4, came as a shock to local residents.

A statement on the company website reads: "Adele MacLeod, Gavin George Scott Park and Robert James Harding of Teneo Financial Advisory Limited were appointed Joint Administrators of M&Co Trading Limited ("the Company") on 9 December 2022.

"The affairs, business and property of the Company are managed by the Joint Administrators. The Joint Administrators act as agents of the Company and contract without personal liability."

M&Co, previously Mackays, is the latest high street retailer to enter administration. This comes as a part of an economic downturn predicted to extend into 2024.

This comes as a range of local banks also close their doors, including HSBC, which will be closing 114 branches in 2023 including Stamford and Oakham.

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