A NATIONAL retailer is to close its doors in Teignmouth after the company failed to find a buyer.
M&Co in Bank Street is one of 170 of the chain’s shops to shut after a deal could not be reached.
Administrators were called in in December for the second time in two years.
But while the brand and its ‘intellectual property’ has been bought by AK Retail Holdings, owners of Yours Clothing, the take over agreement does not include the shops, website or is almost 2,000 staff.
All physical stores are expected to close down at Easter.
The company has stores across the south west including Teignmouth.
Administrators claim blamed the collapse on the sharp increase in costs and lower sales caused by tighter household budgets.
The company previously went into administration in 2020 when 47 stores closed but the Teignmouth shops remained open.
Its assets were then bought back by the original family owners.