The Central England Co-operative is planning to close its Ramsey store after increasing competition in the town led to a “decline in sales”.

More than 40 jobs at the store and petrol station, in Newtown Road, have been placed at risk, with the Co-op proposing to close the outlet on Saturday, January 28.

The Co-op is currently consulting with affected staff about the proposal.

In a statement, the society said: "It is with great regret that the board of directors has taken this very difficult decision following a full review of its trading performance, which has indicated a decline in sales with increasing losses projected in future years.

"Like other retailers, we are constantly adapting to retail challenges at a local level, including the impact of competition in Ramsey. Please be assured this decision was not taken lightly and is necessary to protect the long-term future and growth of the society as a whole.

"This decision in no way reflects upon the excellent endeavours of the staff at Ramsey and the board of directors would like to thank them for their commitment and dedication.

"Unfortunately the proposed closure will affect 43 members of staff who the society is now in consultation with. When taking these decisions we always aim to take into account the best interests of both the business and our colleagues.

"Where possible we aim to offer colleagues opportunities to be redeployed into other business areas."