Marks and Spencer announce broad store closure plan

Endaba Group

1 in 10 UK Marks and Spencer stores and most of its overseas outlets will be affected by Steve Rowe’s store closure programme. The company is battling to turn itself around after years of market share losses. The store overhaul is set to take 5 years and cost £350m; M&S will stop selling clothes at a further 45 UK locations, replacing its existing full-line outlets with smaller Simply Food stores. The international business fell to a £43m loss in 2016, and Rowe believed he knew too little about customers in distant places such as China, Estonia and France to have a chance of making a profit