M&S announces 27 store closures
Updated on 07 January 2009
Marks & Spencer is to close 25 Simply Food shops and two chain stores.
The company has confirmed it will cut over 1,200 jobs and close the stores after reporting its worst drop in sales this decade.
Despite discounts in the run up to Christmas, M&S revealed like-for-like sales fell by 7.1 per cent compared to 2007, and its margins this year would be lower because of discounting on food.
Executive Chairman Sir Stuart Rose said the job losses were necessary because of the "challenging" economic conditions.
The two chain stores to close are in Woking and Valley Park, Croydon.
The Simply Food stores to close are listed below -
- Grafton Centre, Cambridge
- Bracknell
- Torquay
- Imperial Wharf
- Harbourside Bristol
- Newtownards
- Trowbridge
- Letchworth
- Huntingdon
- Marlborough
- Braintree
- Caversham
- Balham
- Palmers Green
- Colmore Row
- Evesham
- Tewkesbury
- Whitley Bay
- Newcastle-under-Lyme
- Biggin Hill
- Sudbury
- Ripon
- Melton Mowbray
- Honiton
- Market Harborough
Interview: M&S Chairman Sir Stuart Rose
Samira Ahmed asks M&S Executive Chairman Sir Stuart Rose whether the Simply Food venture was a mistake.
