The closure of the M&Co store on Stamford High Street has been announced today as part of a nationwide blow to the retail industry.

It's a second time the store in Stamford has closed.

The shutters were first pulled down in 2020 when the company announced it was having problems with the lease at the store but in November last year - to much fanfare and support from the local community - it reopened on the same site.

At the time the compnay said it had always valued Stamford and was looking forward to its return to the town.

However, just a month later the parent company hit murky financial waters and went into administration.

AK Retail Holdings recently bought the brand and intellectual property of troubled M&Co which collapsed towards the end of last year and administrators were appointed in December.

Today (Monday, 6 February) it was announced the company's 170 stores across the country will be closed, with job losses estimated at around 2,000.

A statement from M&Co says: "Unfortunately we haven't received the news we would have hoped for during our administration period, and would like to share this news with you.

"As we haven't received any funded, deliverable offers that would result in the transfer of the company's stores or staff to a potential buyer, this means that all of our stores will close."

M&Co has not yet given a closing date but said it will keep its outlets open until April.