MK One owner Mark Brafman, who fronted a rescue deal for the value chain in May, has rebranded the business back to its original name of Mark One.
Brafman founded the retailer in the 1970s under the Mark One name but it fell into administration in the mid-1990s. It was rescued by former chief executive Elaine McPherson, who rebranded the business MK One in an attempt to shake off its downmarket image.
Brafman was unavailable for comment but industry sources told Drapers that more than a name change was needed to get the business back in shape.
One source said: “This is about signifying change to the consumer and the belief that change cures problems. Joe Public won’t care whether it’s called MK One, MK3 or Mark One. The essential issue is about getting the product, price and environment right.”
Another source close to the business said: “It’s more important to get the business and the product right.”