RETAIL workers at M&Co stores in the Borders will keep their jobs, the fashion giant says.

M&Co is closing 47 shops across the UK, meaning 380 people will be made redundant.

But the Peebles and Hawick stores will remain open, according to a company spokesman.

He said: “I’m pleased to confirm that both the Peebles and Hawick stores will remain open following M&Co’s restructuring.”

M&Co appointed an administrator in April after taking a financial hit from coronavirus.

The administration process, led by Deloitte, will see the number of stores cut from 265 to 218, with around 380 redundancies from a total workforce of more than 2,600.

M&Co’s chief executive Andy McGeoch said: “It quickly became clear that the best way to save most jobs and most stores was to enter administration, with a new company acquiring the assets of the old business, and this process has now been finalised.

“COVID has been by far the biggest challenge our family business has faced in almost 60 years, and I am really pleased that we have been able to maintain a presence in over 200 communities

“COVID-19 means many people don’t feel comfortable travelling on public transport or visiting busy city centres and that can be good news for local high street stores like M&Co.

“That’s why we are looking at ways of working in partnership with other local retailers to highlight the tremendous range of shopping that can be found in communities like this all over the country.

“Local economies rely to a huge degree on their town centres and we have seen too many high streets hollowed out by successive shop closures.

“More and more people are beginning to realise that, if they don’t support their town centres, everyone’s quality of living really takes a hit, so we are proud to be playing a part in the drive to shop locally.”