Marks & Spencer is ‘set to close dozens of stores’ in high street shake-up
MARKS & SPENCER is to close dozens of stores around the UK as part of a massive cost-cutting drive.
A number of other stories could be relocated, while existing shops will see layouts changed to prioritise more profitable parts of the business.
Some branches will dump clothing ranges entirely as the retailer wants to capitalise on the success of its food and drink products, according to Sky News.
Steve Rowe, who took charge of M&S earlier this year, is expected to announced the changes - including the closure of a significant chunk of shops - on Tuesday next week.
He is under pressure to turn M&S around after it has struggled to shift women's fashion.
Since taking over from the previous boss, Marc Bolland, in April, Rowe has axed more than 500 head office jobs in an attempt to cut down costs.
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Yesterday, it emerged that M&S is planning to dump some of its international stores, including those in China.
At present, M&S has over 900 branches in the UK. Around 300 stores house its full range of clothes, homeware, food and beauty products.
It also owns a further 220 Simply Food stores, while a further 350 food shops are owned by franchisees.
It's not known exactly how many shops or which locations are for the chop.
However, it is through that overall the number of M&S branded outlets will increase with a further 200 Simply Food stores due to open by the end of 2019 under current plans.
There is no clues as to whether the store will expand its current online shop or what clothing lines - if any - will be dropped.
It comes just three months after another high street household name, BHS, shut the door on over 200 branches around the UK.
British Home Stores, a name that was a fixture on most high streets in the UK, disappeared after nearly a century after first opening in Brixton, London.
It called in administrators in June, with 11,000 workers losing their jobs.
Previous bosses Sir Philip Green and Dominic Chappell, have both come under scrutiny for the collapse and a £571million pension black hole.
The plans to drop clothing ranges from some M&S stores comes just days after it launched its latest range of clothing in collaboration with Alexa Chung.
The IT girl, model and author was recruited by the retailer in an attempt to revive dwindling sales.
The new Archive by Alexa collection went on sale on Tuesday and includes a range of trendy trench coats, dresses, shirts and shoes.
Alexa celebrated the launch earlier this week with a star-studded party, where she wore on of the dresses from her collection.
A spokesperson from M&S declined to comment.
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