All M&Co stores in Sussex will be closed after the chain collapses

It has six shops in the county – in Hove, Lewes, Seaford, Bexhill, Crowborough and East Grinstead.

All 170 stores across the UK will close in the spring.

The Scottish chain was bought by AK Retail after being placed under bankruptcy for a second time in December.

However, branches across the UK took to social media to reveal that the deal included neither the stores nor the staff.

In a post on Facebook, the retailer said: “Unfortunately, during our tenure, we haven’t received the news we were hoping for and would like to share that news with you.

“As we have not received any funded deliverable offers that would result in the transfer of the Company’s business or personnel to a potential buyer, this means that all of our stores will be closed.

M&Co on Broad Street, Seaford (Image: Google Maps)

“The M&Co brand has been bought but unfortunately this does not mean a future for our stores, our website or our employees.

“We will trade all our stores until Easter and then start the closing process. We will notify you of the timing of our actual closing date.”

M&Co, formerly known as Mackays, is said to have started as a pawnbroker in Paisley, Renfrewshire in the 19th century but switched to selling clothes in the 1950s.

AK Retail said it was considering “all options”.

The Peterborough-based company, which owns Yours Clothing, BadRhino, Long Tall Sally and Pixiegirl, announced last week that it had bought the M&Co brand from administrators for an undisclosed sum.

AK Retail said: “M&Co was placed under bankruptcy for the second time in December.

“Chief Executive Andrew Killingsworth said he is delighted that this long-standing brand will be kept alive.

“Right now we are evaluating all options as we continue to work with our online partners, third parties and others.”