A MAJOR fashion retailer has launched a huge closing down sale as its stores are set to disappear from the high street.

M&Co is running a massive 30-50% off sale online and up to 60% off in-store as 170 shops face closing forever.

The retailer, previously called Mackay’s fell in to administration for the second time in two years at the start of December.

Administrators at Teneo put the bust business up for sale with an auction deadline for interested buyers.

They blame M&Co’s collapse on the sharp rise in costs while squeezed household budgets have also depressed sales. 

At the time that it fell into administration online clothes were being discounted at 50% off, while shop items were reduced by 25% promotions.

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However, M&Co has extended the 50% sale to clothing in stores and customers can expect to get at least 30% off items as a minimum.

But some stores are advertising that prices have now been reduced by up to 60% – as is the case at the Henley on Thames store.

Customers can expect to get at least 30% off on women's, men's and kid's clothing.

And the clearance sale also runs across the chain's pet accessories and cold weather essentials.

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Shoppers need to act fast to take advantage of the discounts because once the items are sold they're gone forever.

And remember you might find that your closest store doesn't have what you want in stock.

You can find your closest M&Co store by visiting the retailer's website and using the store locator tool.

If you're ordering items directly from M&Co's website you'll face a delivery charge of £3.50 for any order priced below £50.

And if you opt for click and collect it's £2 for orders under £20 and free thereafter.

A spokesman from Teneo recently confirmed the sale of M&Co brand and intellectual property to Yours Clothing but not the stores.

The Peterborough-based group also owns the menswear line BadRhino, womenswear retailer Long Tall Sally and maternity brand Bump It Up Maternity.

But an insider source told The Sun that the sale of the brand means M&Co's 170 shops will close forever, putting 1,910 jobs at risk.

M&Co isn't the only store to go into administration and shut its shop doors.

Stationery retailer Paperchase collapsed into administration this week after it failed to find a buyer.

Supermarket giant Tesco quickly stepped up to buy rights to the brand, as they plan to sell Paperchase items in stores.

When a business is liquidated, they will look to sell stock for as much as possible to pay back creditors.

Stores may disappear off the high street within weeks but the process could take up to two months.

Major burger chain Byron Burger also recently fell into administration and is set to close nine restaurants immediately.

If you do bag a bargain from M&Co during its clearance sales, it's important that you are aware of your refund rights.

What are my refund rights?

If you bought the item online, then M&Co should provide you with a full cash refund.

Of course, the item needs to be in its original condition and you will have to send it back yourself via Royal Mail for free.

If you use other couriers then you'll have to pay.

And if you purchased the item online and want a refund in store, you'll only get a gift card or be offered an exchange.

But if you purchased in-store, then M&Co will give you the chance to exchange the product for an item of the same value.

All purchases made in-store since December 9 may can only be exchanged within 14 days with proof of purchase.

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Online sale item returns are valid for 14 days only.

This may vary from shop to shop and of course, sometimes stores may honour a full refund anyway, but they aren't obliged to.

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