Marks & Spencer to close 17 department stores as part of restructuring


Marks & Spencer, the British chain, will close 17 department stores due to the growth in online sales. As a result of the restructuring, the chain has already closed 30 department stores and plans to close 100 outlets by 2022. Marks & Spencer plans to sell at least a third of clothing and footwear online. According to the company's management, the reason for this decision was a change in consumer behavior. Customers increasingly prefer to shop online, which will contribute to the new strategy of the retailer. The department stores will be closed across the country, including stores in Northern Ireland and Wales. The liquidation of the company's outlets will affect more than a thousand people. Marks & Spencer announces its intention to retain most of its employees. Restructuring will affect 1.9 thousand people, over 80% of whom will not remain without work.



The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong