M&S to close 100 stores by 2022

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    M&S storeImage copyright Getty Images

    Marks and Spencer has announced that it will close 100 stores by 2022, accelerating a reorganisation that it says is “vital” for the firm’s future.

    M&S has revealed the locations of 14 more stores that will be closed, adding to 21 that have already been shut.

    It is part of a revamp that was started in November 2016.

    Under that 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.

    “Closing stores isn’t easy but it is vital for the future of M&S,” said Sacha Berendji, director of retail operations at the firm.

    He said that where stores have already closed “encouraging” numbers of shoppers had shifted their business to nearby stores.

    Last year, retail veteran Archie Norman took over as chairman. He said the retailer had been “drifting” and promised to speed up changes.

    The stores being closed

    • Fleetwood (Outlet store)
    • Newton Abbot (Outlet store)
    • Holloway Road
    • Darlington
    • East Kilbride
    • New Mersey Speke
    • Northampton
    View the original article: http://www.bbc.co.uk/news/business-44197128

    http://www.bbc.co.uk/news/business-44197128

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