From next week, Launceston is set to lose another of its high-street shops as M&Co closes its doors on Tuesday, March 28.

The last few years have been a tough one for our high streets, from the Covid-19 pandemic putting a stop to in-person shopping, increased import costs following Brexit, and a cost of living crisis, high-street businesses have been hit hard. 

In a recent report, the Centre for Retail Research (CRR) found that shop closures across the UK had increased by almost 50% between 2021 and 2022. The report also explained that around 47 shops were forced to close their doors every day last year, with a total of 17,145 shops on high streets and other locations closed for good in 2022.

As well as the difficulties faced while running a mortar business, the increased uptake in online shopping has also had an effect on businesses. The Office for National Statistics (ONS) found that “In May 2022, seasonally adjusted internet sales accounted for 26.6% of all official retail sales, compared with 19.7% in February 2020.”

Because of this, local shops are struggling to keep up with increased costs, and as such Launceston, as well as towns across the country, is losing its retail businesses. 

The team that runs Launceston’s branch of M&Co posted online the news that they were set to shut down, also thanking those who have supported the branch over the last 30 years. 

The store also hopes to welcome members of the public to the shop on its final opening day to say goodbye.