Suppliers consider legal action against MK One

MK One suppliers are considering legal action

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Suppliers of MK One are considering legal action against value fashion chain MK One after it cancelled payments.

According to The Daily Telegraph several suppliers are understood to have received cheques from MK One to pay an outstanding bill only to discover that they had subsequently been cancelled.

Some suppliers are investigating the possibility of legal action, with at least one threatening to issue a winding up petition if it does not receive payment.

MK One was put up for sale by Icelandic owner Baugur last week, four years after it acquired  the business. Former MK One chief executive Elaine McPherson was also linked to a possible deal this weekend.