BARGAIN fashion retailer M&Co has collapsed into administration putting Worcestershire's stores at risk.

It was revealed the brand had called in the administrators after a sharp rise in costs put increased pressure on its accounts.

The announcement puts the chain’s stores in Pershore and Stourport-upon-Severn at risk.

Droitwich's store in St Andrew's Square permanently closed its doors last week.

A spokesman for administrators Teneo Financial Advisory Limited, told fashion business magazine Drapers: "Like many retailers, the company has experienced a sharp rise in its input costs, which has coincided with a decline in consumer confidence leading to increased pressure on cash flows and trading losses.

"No immediate redundancies have been made and the joint administrators are exploring a potential sale of the business in an accelerated timeframe, during which time the company will continue to trade from its stores and website."

In 2020, more than 200 M&Co outlets across the UK were saved following a financial restructuring exercise which preserved more than 2,200 jobs.

The company appointed administrators in April as the coronavirus outbreak forced the closure of most UK retailers for almost four months.

The administration process, which was managed by Deloitte, saw the estate reduced from 265 to 218 stores, with around 380 redundancies from a total workforce of over 2,600.

We have contacted M&Co for more.