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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. 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. 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 UK employment rate has increased by 0.1 percentage points compared to data covering the last quarter, according to data from the Office for National Statistics published today (18 August 2026). However, this is down by 0.2 percentage points on the year. The research, which focuses on UK labour data between April and June 2026, also found the UK unemployment rate for people aged 16 years and over increased by two percentage points over the year to the end of June 2026, but fell by 0.1 percentage points over the last quarter. While the estimated number of payrolled employees fell by 0.3% between June last year and June this year, it remained largely unchanged between May 2026 and June 2026. Over the quarter, however, this fell by 0.1%. The ONS’s early estimate of payrolled employees for July this year has decreased by 0.3% on the year, but has remained unchanged over the month. See also: Bank of England holds rates at 3.75% in widely...

Britain's labour market showed signs of cooling in the second quarter, highlighted by tepid earnings growth and a significant drop in job vacancies, according to official data released on Tuesday.The private sector saw regular earnings rise by just 2.8% annually up to June, a growth rate not seen since late 2020. This growth met the Bank of England's recent forecasts, yet the pound sterling slightly declined as unemployment remained at 4.9%, contrary to economists' projections for a decrease to 4.8%.Despite a minimal increment of 83,000 in employment, falling short of expectations, potential risks loom with geopolitical tensions and prospective tax increases anticipated. The overall scenario points towards a labour market steadily losing momentum, raising concerns about future economic stability. (With inputs from agencies.) Source link...

UK job vacancies have fallen to a five year low and wage growth is cooling, which hints at a slower domestic cycle but also steadier interest rates. That mix can change how investors look at UK small and mid caps that are closely tied to everyday spending. This article explores what that shift might mean for risk and reward and reveals three stocks exposed to this labour market story. The three stocks covered below are just a starting sample, and the full screen surfaced 9 more UK small and mid caps with equally interesting domestic stories that are not discussed here. To identify and analyze these additional opportunities directly, head into the UK Small- and Mid-Cap Domestic Cyclicals screener. Ultimate Products (AIM:ULTP) Ultimate Products is a £46 million Oldham based supplier of value branded household goods, selling everything from Beldray vacuum cleaners to Salter kitchen kit through major UK retailers and online. It earns about £145 million in revenue from...

Private sector wage growth has fallen to its weakest level since the Covid pandemic, as new figures reveal mounting pressure on Britain’s jobs market. Figures released by the Office for National Statistics (ONS) on Tuesday show that annual growth in regular private sector earnings slowed to 2.8 per cent in the three months to June 2026. By comparison, regular earnings growth in the public sector stood at 6.1 per cent over the same period. The ONS has cautioned that public sector figures continue to be affected by differences in the timing of pay awards this year. Across the economy as a whole, annual growth in regular earnings, excluding bonuses, was 3.5 per cent in the three months to June, while total earnings including bonuses increased by 4.1 per cent. The latest figures also show that unemployment remained at 4.9 per cent among people aged 16 and over during April to June. The rate was 0.2 percentage points higher than a year earlier, although it...

Vacancies in the UK jobs market have fallen back again while wage growth in the private sector has hit a near six-year low, new figures show.The Office for National Statistics (ONS) said its early estimates show there were around 6,000 fewer vacancies between May and July, compared with February to April.This brings the level of vacancies down to 707,000, the lowest in more than five years or, outside of the Covid pandemic years, since 2014.Vacancies slumped earlier in the year in a sign that firms were pulling back hiring in the face of economic uncertainty and higher wage costs.The latest ONS survey found that small firms may not be recruiting because of increased labour costs and other business expenses.The data also revealed that regular average wage growth in the UK’s private sector fell to 2.8% in the three months to June – the lowest level since the three months to October 2020.Early estimates of vacancies in the UK suggest a...

ING’s Chris Turner reports a firmer EUR/GBP after UK labour data, with economist James Smith highlighting a cool jobs market and minimal wage pressures, implying little impetus for Bank of England hikes this year. Sterling money markets still price 60bp of BoE tightening into next year, which Turner expects to be gradually priced out, with EUR/GBP biased toward 0.8570/0.8580.Jobs data temper BoE expectations"EUR/GBP has opened up a little firmer on the release of the latest jobs data.""Nothing particularly earth-shattering in the latest UK jobs figures. Payrolled employment is down a touch – though this masks big differences between government (which is still actively hiring), consumer services (where job numbers are consistently falling and the pace of decline is getting worse) and the remaining private sector, which is flatlining.""The unemployment rate is up a touch, though the ONS has already revealed there are temporary sampling issues with the labour force survey underpinning it (on top of the well-publicised existing problems), so...

Vacancies in the UK jobs market have fallen to the lowest level since 2014, other than during Covid, with 6,000 fewer openings between May and July compared to the three months to April. While the overall unemployment picture remains steady at 4.9 per cent, private sector pay growth has also fallen to a six-year low as the British economy struggles to escape concerns over the increase in cost of labour. The Office for National Statistics (ONS) said its early estimates brings the level of job vacancies down to the lowest in more than five years, having slumped earlier in the year. In total, 707,000 job vacancies remained open. The ONS said its survey found that small firms may not be recruiting because of increased labour costs and other business expenses....

Documents reveal for the first time events surrounding the collapse of the company founded in 1834 with the closure of all 168 stores, and that unsecured creditors face losing tens of millions of pounds. Recently lodged papers on M&Co, which started its life in Paisley as a pawnbroker before entering retail in 1953 as Mackays by family owners Len and Ian McGeoch, show that more than 600 unsecured creditors will lose more than £33m. New documents show the case moved from administration to dissolution in June and administrators' reports set out the steps leading to the failure of the business. UK high street retail giant collapsed with 168 stores closed and 1,800 jobs lost (Image: Getty Images) Adele Macleod, Gavin Park and Robert Harding, of Teneo, were earlier appointed joint administrators in the second such event. The firm first fell into administration during the pandemic with 47 stores and 380 jobs lost at the time. ...