Portsmouth, Slough, Wokingham: Marks & Spencer to shut stores

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TBM Team

Marks & Spencer has revealed the locations of the first six stores it plans to close as part of a major restructuring plan aimed at turning around and reviving the high street retailer's flagging sales and profits. They include stores in Wokingham, Slough and Portsmouth.

Two of the store closures are Simply Food shops at Monks Cross Shopping Park in York and The Priory Shopping Centre in Worksop.

The remaining four stores sell clothing, home and food and are located at Golden Square Shopping Centre in Warrington, the 147 High Street in Slough, the High Street in Portsmouth and Peach Street in Wokingham.

Marks & Spencer said all 380 colleagues in the affected stores would be guaranteed redeployment at a nearby store.

The company will also be opening 34 new food stores and two clothing, home and food stores in the next six months, creating 1,400 jobs.

The include new foodhalls in Bishopsgate (London, near Liverpool Street), Huntingdon, Aylesbury, Spinningfields (central Manchester) and Strood (Kent) and brand new locations for M&S with clothing, home and food stores opening in Bracknell and Rushden in July.

In addition, two clothing, home and food stores will relocate this summer in Crewe (from Market Street to the Grand Junction Retail Park) and Greenock (from Oak Mall to the Port Glasgow Retail Park).

The news comes after chief executive Steve Rowe announced in November that around 30 of the retailer’s 304 full-line stores will close down over the next five year as part of a shake-up that will see it focus on its more profitable food arm ahead of its struggling clothing business.

Source: CoStar

TBM Team