The closure of the M&Co store on Windsor Road, Penarth, has been announced as part of a nationwide blow to the high street.

AK Retail Holdings recently bought the brand and intellectual property of troubled M&Co which collapsed towards the end of last year and administrators were appointed in December.

Today (Monday, 6 February) it was announced the company's 170 stores across the country will be closed, with job losses estimated at around 2,000.

A statement from M&Co says: "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."

M&Co has not yet given a closing date but said it will keep its outlets open until April.