Exmouth’s M&Co is NOT closing as company shuts 47 branches nationwide
PUBLISHED: 09:14 07 August 2020
Exmouth’s M&Co branch will not be one of 47 outlets closing as the company undergoes a financial restructuring.
The firm will be reducing the number of shops it operates from 265 to 218 but Exmouth’s store, in the Magnolia Centre, will not be closing.
M&Co, which has had a presence in Exmouth for more than three decades, appointed Deloite as administrators in April as the coronavirus outbreak forced the temporary closure of shops for nearly four months.
As a result of the closures, around 380 staff across the UK will be made redundant.
Andy McGeoch, chief executive of M&Co, said: “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.”
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