M&S offers Holly Willoughby a new two-year contract after Phillip Schofield was dropped from We Buy Any Car

Marks & Spencer has extended its seven-figure contract with Holly Willoughby – despite accusations that she skipped the queue to see the Queen in state.

The TV presenter, 41, will continue to be an ambassador for the firm for at least two years, he confirmed.

It comes as his This Morning co-host Phillip Schofield, 60, was dropped as the face of We Buy Any Car – a deal which would have earned him over £1million.

The couple, who deny skipping the queue or taking anyone’s place, faced backlash for skipping the 12pm queue by using their press credentials at Westminster Hall in London last month.

Deal: It comes as his This Morning co-host Phillip Schofield, 60, was dropped as the face of We Buy Any Car – a deal that would have earned him over £1million

Controversy: Phillip and Holly faced online abuse following claims they skipped the queue to see the Queen lying in state

M&S said: “We have extended our contract with Holly and will continue to work with her.”

A source close to Ms Willoughby, who has her own range of clothes in the store, said: ‘Holly has been amazing for Marks & Spencer and has her full support.

She has been assured by ITV that her This Morning job is safe after 75,000 people signed a petition calling for her and Schofield to be made redundant.

Sources close to Ms Willoughby fear ITV will expose her. Some insiders believe this has given Schofield more support as he is signed with influential talent agency YMU.

The Sun reported yesterday that We Buy Any Car is shooting ads next week without Schofield. But the used-car firm said his role would still end after five years.