Marks and Spencer store closures: SEVEN branches shut TODAY as profits plunge

MARKS & Spencer will today close seven stores as the high street favourite battles falling profits.

Marks & Spencer plans to close 100 stores by 2022.
Photograph: Suzanne Plunkett/Reuters
KATIE HARRIS–The branches shutting their doors for the final time today are in Falkirk, Kettering, Newmarket, New Mersey Speke, Northampton, Stockton and Walsall.

The closures are part of plans announced in May to shut more than 100 shops by 2022.

It comes after the retailer’s profits fell by nearly two-thirds to £176.4million last year.

Sacha Berendji, retail, operations and property director at M&S, said: “Closing stores isn’t easy but it is vital for the future of M&S.”

Under the plans, M&S is aiming to move at least a third of sales online and have fewer, better home and clothing stores.

The closures come at a time of growing crisis on the high street as retailers face increasing pressure to survive amid rising costs.

Household name Toys R Us collapsed earlier this year, with Maplin and Poundworld also going under.

And fashion chain New Look, Mothercare and Carpetright have announced store closures.

Marks & Spencer shop
Marks & Spencer will today close seven stores (Image: GETTY

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Crimson Tazvinzwa

TEACHER & MEDIA TRAINER

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