M & Co to axe 27 jobs at its Inchinnan headquarters
Fashion retailer M&Co is making 27 posts redundant at its Inchinnan headquarters.
The company, which was known as Mackays, has announced a restructuring plan that it says will secure the company’s future on the high street.
However, this means 47 stores will close across the country and around 380 people will be made redundant, from a total workforce of 2,600.
The M& Co stores in Paisley and Johnstone will stay open.
The company blamed the coronavirus pandemic, which has had a severe impact on the retail sector, for the closures.
CEO Andy McGeoch said: “As everyone knows, retail has been one of the sectors hardest-hit by Covid-19, with long-term shop closures and social distancing having a hugely negative impact.
“We reopened most stores in June and have been exploring every possible option, but it was obvious that the business, as previously structured, would remain under severe pressure from the ongoing challenges of Covid-19.
“The most difficult part of this process is undoubtedly seeing colleagues in stores and at our Glasgow and London operations leaving the business.
“It’s a terrible situation for them and I’m desperately sorry that we couldn’t come up with a viable plan which would have saved all the jobs.”
Originally a pawnbroker’s business that opened its first store in Clydebank in 1953, Mackays was transformed into a clothing retailer by brothers Len and Iain McGeoch.
Mackays expanded throughout the 1960s and, by the mid-1970s, boasted more than 100 stores. It was during this era that the HQ was established in Paisley. It moved to Inchinnan in 2007.
Meanwhile William Hill will announce later this week which of its 119 stores it plans to close.
A total of 320 staff are affected by the closures . A William Hill spokesman explained that 300 workers will be redeployed and 20 are at risk of redundancy.
Across Renfrewshire, William Hill runs eight bookmakers shops – four in Paisley in Broomlands Street, Caledonia Street, Glasgow Road and Gilmour Street; one in Church Street, Johnstone; one in Bridge Street in Linwood and one on Renfrew High Street.
There is also a shop on Main Street in Barrhead.