Nairn branch set to close as M&Co axes 170 stores in the UK
NAIRN’S High Street has been dealt a blow after it was confirmed that the town’s under-threat M&Co store will be closing its doors.
The local branch of M&Co will shut in the spring. The news comes after the fashion chain, which had been in administration, was bought by AK Retail Holdings and its new owner confirmed that it had not purchased the physical stores – all of which are to be shut with the loss of 2000 jobs.
According to Nairn BID manager Lucy Harding, this will leave a hole in the High Street.
She said: “The closure of M&Co is very sad and it will be sorely missed, particularly because this is a very profitable branch of the shop and it’s very sad that the failure of a national chain should mean that we lose a valuable asset to the Nairn High Street.
“People who were on holiday in Nairn often pop into the store and it saves people having to go to Inverness.
“Having said that, I don’t think this will impact the footfall on the High Street. We really hope that who owns the building will find a good tenant for it – we love having lots of independent shops on the High Street but it’s a big space to fill.
“Buildings on high streets all over Scotland need lots of investment and it costs a fortune to move into any premises.”
“If any prospective businesses want more information about doing business in Nairn, they can get in touch and we’d be happy to provide them.”
A statement published on the M&Co local stores’ Facebook pages said that the company has not received “the news they would have hoped for during the administration period”.
It continued: “As we haven’t received any funded, deliverable offers that would result in the transfer of the company’s stores or staff to a potential buyer, this means that all of our stores will close.
The M&Co ‘brand’ has been purchased, but unfortunately this does not include a future for our stores, website or staff. We will trade all of our stores until Easter, and then begin the close down process. We will update you closer to the time, of our actual closing date.
“We hope you will appreciate this is also a very difficult time for staff working in the stores and we ask for respect and understanding when raising an issue. We thank you all for your continuous support, and we hope to see you all over the next couple of months.”
The Nairn building is currently owned by Glasgow-based Sava Estates Limited, however it has been on sale for some time, with TSA Property Consultants as marketing agents.
Will Rennie from TSA Property Consultants said there is hope for a last minute solution.
He said: “At the moment we don’t have any clear picture of what’s happening next.
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“Obviously this is a very difficult market. Certainly the larger stores are quite difficult to try and move in the current climate as opposed to smaller retailer lets.
“We need to still assess what we’ll be doing going forwards, potentially looking at a change of use for the space.
“We’re not involved in the conversations with the parties that are looking to take over some of the sites, but there is always a hope that someone might come at the eleventh hour and potentially keep the staff – stranger things have happened.”
The Provost of Nairn, Laurie Fraser, said that there is still hope for the shop: “We will have to wait and see.
“If they are closing, this will be a big empty shop will not be easy to fill.”
