Retailer M&Co has today confirmed it has not found a buyer, with all of its 170 shops to close.

The company has had a presence in Tenby since 2017, when it replaced the TP Hughes’ clothes department store situated on High Street (and Upper Frog Street).

The clothes retailer, appointed administrators before Christmas, after it collapsed for the second time in two years.

M&Co previously appointed administrators back in April of 2020 as the coronavirus outbreak forced the closure of most UK retailers for almost four months, but the Tenby store was one of the company’s UK outlets to be saved following a financial restructuring exercise.

The clothing and homeware retailer’s brand has been bought by Peterborough-based AK Retail Holdings, the owner of the larger sizes brand Yours Clothing, Long Tall Sally and Bump It Up Maternity - but the deal did not include M&Co’s physical stores.

It is understood some of the 170 stores have already closed and more will follow over the coming weeks, with some expected to trade into April.

A statement released via several of M&Co’s stores’ Facebook pages said: “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.

“The M&Co ‘brand’ has been purchased, but unfortunately this does not include a future for our stores, website or staff.

“We hope you will appreciate this is also a very difficult time for staff working in the stores and we ask for respect and understanding when raising an issue.

“We thank you all for your continuous support, and we hope to see you all over the next couple of months.”