Traders have reacted with dismay to the news that M&Co in Tavistock faces possible closure after announcing it had appointed administrators.

Shoppers, who flocked to the subsequent ‘closing down sale’, said they would miss the ‘affordable, quality, every-day’ clothes in the ‘only shop’ in the town offering products they would wear.

The company has shops across the country, including Liskeard and Launceston. The staff of five in Tavistock now face an uncertain future.

Denis Mbu, who owns Carters delicatessen in Tavistock, said: ‘Unfortunately, closures are a sign of the times with a recession and shoppers facing household price inflation. Anything that reduces the choice in Tavistock high street is a bad thing. People come here for the independent shops and products they can’t get elsewhere. But there’s go to be a mix to be healthy and sustainable, it can’t all be food and charity shops and gifts. M&Co has a loyal customer base. People will go there every time they come to Tavistock for a browse because it fills a need for affordable clothing. The store did cut back on men’s and children’s clothes, but downscaling obviously didn’t work for them. I hope they can be saved for the good of the town. I guess many people are making decisions about buying based online, which takes away the need to go into a shop.’

Roy Lavers, of House of Cards, said all traders were facing a bleak time: ‘It’s sad, but not surprising in the ecomomic situation with rents particularly high in Tavi. M&Co is popular with a large sector of visitors and residents, but it seems that’s not enough to keep them going.

‘Traders have all had a tough 12 months in Tavistock and things are now getting worse, as everywhere is in recession. However, Tavistock is quite resilient because it has a special offering as a destination for higher end shopping. But there’s even less to spend when the cost of basics like food just keeps going up.’