Sunday, 20 October, 2019

468 at risk as M&S announces 14 store closures

Marks & Spencer store on the Champs Elysees avenue in Paris France Marks & Spencer store on the Champs Elysees avenue in Paris France
Russell Knight | 31 January, 2018, 22:40

Stores in Birkenhead, Bournemouth, Durham, Fforestfach, Putney and Redditch are to be closed by the end of April. All 48 staff will move to nearby stores. The company will attempt to reassign affected employees.

"I'm pleased our colleagues from the store will be staying with us and we are committed to delivering the very best of M&S for our customers".

"We'll be working hard to become an integral part of the community, ensuring we offer fantastic customer service and putting our customers at the heart of everything that we do".

The store closures follow a restructuring of its marketing department which is created to "ensure that we are faster, more commercial and acutely focused on our customers".

"The trading problems the retailer has been facing over recent years have been well documented and the investment that has been made into the Stockport store by the retailer has been limited, and in light of this we have been working to prepare for all eventualities".

The move forms part of a "transformation plan" with M&S hoping to reposition about 25 per cent of its clothing and home space through a combination of closures, downsizes, relocations and conversions to food-only sites.

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Shoppers queued early today for the eagerly awaited opening of Marks & Spencer's new Foodhall in Peterborough.

Marks & Spencer group revenue slipped by 0.1% to £3.2 billion ($4.5 billion) during the third quarter, ended December 30.

A spokeswoman for M&S refused to confirm or deny whether the new 1,264 square metre store planned for the revamped Seacourt Retail Park in Botley Road would go ahead, in light of the announcement.

These stores will sell M&S food and drink and offer Collect in Store for Clothing & Home.

Though revenue grew during the holidays, the company blamed unseasonable weather in October for undermining performance during the period.

The company in total has 1,205 stores in the United Kingdom with 302 being clothing, home and food shops; 684 food-only stores; and 39 outlets.

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