Tuesday, 22 May 2018

Marks and Spencer plans to close 100 stores by 2022



Marks and Spencer plans to close 100 stores by 2022, accelerating a reorganisation that it says is "vital" for the retailer's future.

 
Of the 100 stores, 21 have already been shut and M&S has now revealed the location of 14 further sites to close.


Under its plan, M&S wants to move a third of its sales online and plans to have fewer, larger clothing and homeware stores in better locations.


The latest closures will affect a total of 872 employees.


"Closing stores isn't easy but it is vital for the future of M&S," said Sacha Berendji, its retail operations director.
He said that where stores have already closed, "encouraging" numbers of consumers were now shopping at nearby stores. The company has just over 1,000 UK stores.


The 14 M&S stores affected are:
  • Bayswater, Fleetwood (outlet store) and Newton Abbot (outlet store), which are all due to close by the end of July 2018
  • Clacton and Holloway Road, which will both shut by early 2019
  • Darlington, East Kilbride, Falkirk, Kettering, Newmarket, New Mersey Speke, Northampton, Stockton and Walsall, which are proposed for closure
 
 
BBC     News.