A high street giant collapsed into administration, resulting in the loss of 1,800 jobs.
M&Co, which was founded in 1834 and operated 168 stores across the UK, owed more than £46 million at the time of its collapse.
The clothing retailer closed all of its brick-and-mortar stores across the UK in spring 2023 after going into administration, including past local branches in places like Didcot, Abingdon, and Kidlington
Newly published documents reveal that more than 600 unsecured creditors will lose more than £33 million, with the case moving from administration to dissolution in June.
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Adele Macleod, Gavin Park and Robert Harding of Teneo were appointed joint administrators, marking the second time the company had entered administration.
M&Co first entered administration during the pandemic, resulting in the loss of 47 stores and 380 jobs.
The company was bought back by the founding family, but administrators were once again appointed in 2022.
In their latest report, the administrators said: “We adjudicated all claims received and subsequently admitted 608 claims for a total of £34m for dividend purposes, compared with £41m in the directors’ statement of affairs.
“The maximum prescribed part fund of £800,000 was distributed on March 9, 2026 to non-preferential unsecured creditors, representing a dividend rate of 2.32p in the pound.
“Insufficient funds were realised to enable a dividend to be paid to non-preferential unsecured creditors, other than via the prescribed part distribution referred to above.”
The M&Co brand was acquired for £2.5 million by AK Retail Holdings, the Peterborough-based owner of Yours Clothing.
The administrators also addressed the company’s pension obligations, stating: “No further distributions have been made to the pension scheme following Holdings’ payment of the outstanding pension scheme debt in August 2024 and its security has been satisfied.”