Jobs are at risk at a Wells fashion store after the chain went into administration.

The M&Co branch in the High Street is one of about 170 UK-wide under threat with nearly 2,000 employees now facing an uncertain Christmas.

The branch is one of about 170 UK-wide under threat with nearly 2,000 employees now facing an uncertain Christmas.

The company, which used to be known as Mackays, currently employs 1,910 staff with 170 shops across the UK. Financial advisory firm Teneo confirmed it had been brought in on Friday - but said there would be no immediate redundancies and shops would continue trading as usual, as the hunt for a new buyer gets underway.

"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," Teneo said.

"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."

Over the past week, the retailer has shut stores in Dorchester, Dorset, and Droitwich, Worcestershire.

M&Co fell into administration in August 2020, when it was bought back by its Scottish owners the McGeoch family in a pre-pack deal that saw it close 47 stores.

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Gavin Park, one of the joint administrators, said M&Co had experienced a sharp rise in costs like many other retailers, coinciding with a "decline in consumer confidence".

He added: "Despite a very loyal customer base, particularly in local markets, and a well-recognised brand, the current economic outlook has placed increasing pressure on the Company's cash position."