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Nov 8, 2016 @ 19:00

M&S culls clothing business as major overhaul curtails global ambition

 

Marks & Spencer is shutting 30 UK stores as part of a major overhaul that will slash the amount of selling space devoted to its ailing clothing ranges.

New boss Steve Rowe told the City that more than 100 UK stores – a quarter of its UK floorspace – would be affected by the shake-up with clothing departments to be shut entirely in 60 stores.

Another 45 stores will either be turned into branches of its more successful Simply Food chain, downsized or relocated. The three year plan, which aims to boost sales as more Britons buy clothing online, is expected to cost £150m.

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