CLOTHING retailer M&Co’s Alexandria store has been spared the axe after the company announced the closure of 47 of its shops across the UK.

The Renfrewshire-based clothing company has confirmed that its Mitchell Way store will remain open, along with more than 200 other outlets throughout the UK, following a “financial restructuring exercise” which will see around 380 staff made redundant.

Eight of the firm’s Scottish stores are facing closure as the company, which appointed administrators in April, fights to survive in the face of the downturn on the country’s high streets and the Covid-19 crisis.

The company’s chief executive Andy McGeoch said: “It quickly became clear that best way to save most jobs and most stores was to enter administration, with a new company acquiring the assets of the old business, and this process has now been finalised.

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“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 more than 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.

“We are looking at ways of working in partnership with other local retailers to highlight the tremendous range of shopping that can be found in communities like this all over the country.

“Local economies rely to a huge degree on their town centres and we have seen too many high streets hollowed out by successive shop closures.

“More and more people are beginning to realise that if they don’t support their town centres everyone’s quality of living really takes a hit, so we are proud to be playing a part in the drive to shop locally.”

Founded as Mackay’s Drapers in Paisley in 1961, the business, which has its headquarters in Inchinnan, was rebranded as M&Co in 2006.

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