Fashion retailer Peacocks is reportedly looking to open 20 new sites in closed-down M&Co stores.
Peacocks are reportedly looking to open a new store in the old M&Co site in Stornoway, Scotland in the next few months and are in "advanced negotiations" to open in the old M&Co site in Saffron Walden.
The fashion business magazine Drapers reports that the retailer has made offers "on a considerable number of stores".
M&Co has been closing its sites over the last few months after falling into administration for the second time in December 2020.
M&Co's brand and intellectual property was saved after it was bought by Yours Clothing in February.
However, the physical stores were not apart of the deal - so were going to have to shut down.
This was yet another blow for the decline British high street.
The majority of M&Co's 170 stores have now closed with the last few set to shut forever over the next week.
One "property insider," told Drapers magazine that Peacocks was looking to take over some of M&Co's "better trading stores".
The experts said that the move "made commercial sense" as Peacocks was able to access this information through M&Co's administrator Teneo.
One insider told the publication: "What it is doing is saying 'where we are not and M&Co was, we know how well their trade was so we will take the better stores."
"They will pick the better trading stores and also the better fitted stores so all they need to do is a very cheap makeover."
As of March 2023, there are around 340 Peacocks retail stores across the UK.
Peacocks have also had its fair share of financial troubles over the last few years as the retailer was bought out of administration in 2021.
The chain fell into trouble in 2020 but was saved by Edinburgh Woollen Mill’s COO Steve Simpson.
The move reportedly saved around 200 stores and around 2,000 jobs.
Like many other high street brands, the retailer faced financial hardship due to the Covid-19 pandemic and subsequent lockdowns.
Peacocks declined to comment on the plans when asked to comment by The Mirror.
