Exmouth’s M&Co is NOT closing as company shuts 47 branches nationwide

PUBLISHED: 09:14 07 August 2020

Magnolia centre Exmouth. Ref exe 02 19TI 8229. Picture: Terry Ife

Magnolia centre Exmouth. Ref exe 02 19TI 8229. Picture: Terry Ife

Archant

Exmouth’s M&Co branch will not be one of 47 outlets closing as the company undergoes a financial restructuring.

The M&Co store in Exmouth. Picture: Daniel WilkinsThe M&Co store in Exmouth. Picture: Daniel Wilkins

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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