Clothes retailer M&Co is to close all its 170 stores this spring including the one in Rams Walk in Petersfield, with the loss of almost 2,000 jobs.

It is understood they will all be closed by Easter, but the Rams Walk branch could close earlier.

Rams Walk is the local ‘jewel in the crown’ of East Hampshire District Council’s buy to rent investment portfolio.

The council bought Rams Walk for around £30m in the summer of 2019, currently one unit has been empty for some while, and that is soon to be joined by the M&Co premises.

There were concerns the Rams Walk outlet could close when the chain first appointed administrators in 2020, but only a few stores closed, and Petersfield wasn’t one of them.

Then at the end of last year the Scotland based company appointed administrators for a second time.

M&Co was then snapped up by Peterborough-based business AK Retail Holdings, which owns Yours Clothing, Long Tall Sally, BadRhino and maternity brand Bump It Up.

Its physical stores were not be included in the deal.

The closures were announced in social media posts by branches across the UK.

The posts, on Facebook, began: "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."