Marks & Spencer to Lose Its Crown of UK Largest Retailer as It Closes 100+ Stores by 2022, Thousands of Jobs in Danger!

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M&S revealed plans to close 100-plus shops by 2022, as it follows the current store closure programme. Read the reasons for such a radical plan on Nexter.org

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Source: Luxembourg Herald

M&S radical closing

The retailer announced some of the stores would be closed, and the rest would be converted into food stores of “Simply Food”. In total, as part of the change in the company’s concept, its head Steve Rowe plans to open 200 new grocery stores.

M&S is going to close 53 of its stores in other countries, including 10 in China and seven in France (other stores located in Belgium, Estonia, Hungary, Lithuania, the Netherlands, Poland, Romania and Slovakia).

The company said all these stores were unprofitable for several years. Now M&S starts negotiations with about 2 thousand of their employees. So far the programme has affected 1,500 out of 72,000 UK shop workers.

“Closing stores isn’t easy but it is vital for the future of M&S,” Sacha Berendji, the Marks & Spencer retail director, said. “Where we have closed stores, we are seeing an encouraging number of customers moving to nearby stores … which is why we’re continuing to transform our estate with pace.”

Many visitors of M&S has expressed their opinion on the situation saying it was a shame for the retailers to close the stores and turn it into a “pound shop.”

‘‘Marks & Spencer has dominated the UK clothing market for decades, but its lead as number one is perilously close to being lost to Primark this year,” said Maureen Hinton, a research director at GlobalData.

“The closure of yet more stores will hasten the decline unless it can shift the lost sales to its online channel and transfer to its other stores.”

While M&S is losing its crown, refresh your knowledge on Brexit, a word that is used to determine that the UK leaves the EU – merging the words Britain and exit to get Brexit.


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Marks & Spencer to Lose Its Crown of UK Largest Retailer as It Closes 100+ Stores by 2022, Thousands of Jobs in Danger!
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Marks & Spencer to Lose Its Crown of UK Largest Retailer as It Closes 100+ Stores by 2022, Thousands of Jobs in Danger!
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M&S revealed plans to close 100-plus shops by 2022, as it follows the current store closure programme. Read the reasons for such a radical plan on Nexter.org. 
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