Fashion store M&Co is closing their stores in Exmouth and Sidmouth.

M&Co declared bankrupcy a week before Christmas and are closing their stores across the UK  - including the store in Exmouth's Magnolia Centre and Sidmouth High Street.

They have 750 stores across the UK and employs nearly 2,000 staff, the chain was up for sale but failed to find a bidder and have now filed for bankruptcy.

M&Co, which has had a presence in Exmouth for more than three decades, struggled during the coronavirus outbreak in 2020 forced the temporary closure of shops for nearly four months.

A spokesman for Teneo, who are handing the administration said: "Like many retailers, the company has experienced a sharp rise in its input costs, which has coincided with a decline in consumer confidence leading to increased pressure on cash flows and trading losses.

"No immediate redundancies have been made and the joint administrators are exploring a potential sale of the business in an accelerated timeframe, during which time the company will continue to trade from its stores and website."

A factor of the store closures is belived to be the Covid-19 pandemic, with struggling trade. 47 stores were closed in 2020 across the UK in a bid to save the company.

There are rumours that the M&Co store, in Exmouth's Magnolia Centre could be replaced by a Kebab shop. 

Andy McGeoch, chief executive of M&Co, said in 2020: “Covid has been by far the biggest challenge our family business has faced in almost 60 years, and I am really pleased that we have been able to maintain a presence in over 200 communities

“Covid-19 means many people don’t feel comfortable travelling on public transport or visiting busy city centres and that can be good news for local High Street stores like M&Co.”