Marks & Spencer will close almost a quarter of its shops over the next five years as part of a major cost-cutting shake-up.
Marks and Spencer has not yet said which stores will close and how many jobs will be lost Spencer will close almost a quarter of its shops over the next five years as part of a major cost-cutting shake-up.
M&S bosses told investors today they are accelerating a string of planned closures first announced in 2019 which will see 110 stores in total axed.While the plan will be rolled out across the next five years, bosses hope to get it done in three. Recently-appointed M&S chief executive Stuart Machin added that the company will now focus more on Simply Food outlets over the same period.Machin said shoppers should expect to see the Simply Food outlets open in the same area or location as sites earmarked for closure.But the aim is to have 180 ‘full-line’ stores selling groceries, clothing and homeware by early 2028 — down from 247.
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