Marks & Spencer has announced plans to close eight stores in the UK, putting nearly 500 jobs at risk.
The retail giant has said that the 468 staff entering consultation will be offered redeployment at other stores before redundancy is considered. The eight stores earmarked for closure across England are in Andover, Basildon, Bridlington, Denton, Falmouth, Fareham, Keighley and Stockport. The retailer also confirmed that six stores will close by the end of April at Birkenhead, Bournemouth, Durham, Fforestfach in Wales, Putney and Redditch, with all staff moving to nearby stores.
The closures come as part of a major overhaul announced in November 2016, when the group unveiled plans impacting on a quarter of its clothing and home outlets. Marks & Spencer said recently that it would cease operations at its London distribution centre, putting 380 jobs at risk, and outsource more than half of its 430 IT team members in a move that will cut costs by around £30 million a year. It is closing and relocating stores, cutting clothing and home space, as well as converting some shops to food-only outlets. M&S has also said that its previously announced plans to put the brakes on its Simply Food expansion plan will also see just 36 stores open over the next six months.
Last November, it was revealed that M&S would be accelerating the closure of 100 stores or departments selling clothes and products for the home. The move came as part of a bid to cut costs, shut under performing outlets, and encourage a shift to shopping online.
@ 2018 - Checkout Magazine by Maev Martin