19-Jun-2018

M&S to close 100 stores in the UK in next four years

LONDON May 23: M&S has revealed that it will close 100 stores across the UK in the next four years - up from 60 six months ago.
 
The closures will mainly affect its larger clothing and home stores, which have under performed for several years, but bosses say the move is 'vital' for its survival. 
 
They will concentrate on expanding its online operation in the hope it will bring in a third of all sales by 2022 and squeeze more cash out of its hugely successful food business.
 
M&S yesterday named 14 stores earmarked for closure, with 21 already having shut and a further 65 are yet to be earmarked.