Sunday 13 November 2016

Is Your Nearest Marks And Spencer Closing?

Marks And Spencer

Marks and Spencer already announced they are closing nearly 30 branches and which will lost nearly 500 jobs.

The shake up is planned over the next five years, with the brand focusing on their more successful Simply Food stores.

M&S posted a drop of 80 percent in half-year profits and new CEO, Steve Rowe is under pressure to turn things around.

He took over in April and has already announced a planned cut of 500 head office jobs.

Rowe is now planning to refocus the business, with particular emphasis on the more profit-making Simply Food.

Marks & Spencer are also planning on closing international stores that aren’t doing well, along with around 60 UK clothing and homeware stores closing over the next five years.

Marks And Spencer

It's not known exactly which stores will be closing at the moment.

The programme is running over five years and each store will be reviewed individually.

Some stores may change from clothing or homeware to Simply Food or be relocated, and Rowe said there shoppers should see an increased M&S presence and more jobs created. When will we know details?

Marks & Spencer are remaining very tight-lipped about exactly when the first stores will be closed under the new plans.

The scheme will cost approximately £350million will take until at least 2021.


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