Marks & Spencer is accelerating its retreat from the high street by closing a further 20 of its full-line stores, which sell clothing and food under one roof.
The retailer said it planned to close 85 of its big high street stores, on top of the 35 it has already shut. The company is battling the transfer of clothing sales online and it had already told the City to expect about 100 closures.
The news of the extra branches being axed came as the group pointed to “green shoots” of recovery, despite annual profits being pulled down by a £440m bill for a modernisation programme. The overhaul of the struggling chain will also involve the closure of 25 of its Simply Food convenience stores. » | Zoe Wood | Wednesday, May 22, 2019
