Marks & Spencer is closing one in four of its larger stores as it looks to save hundreds of millions of pounds on rent.
M&S told investors that it was speeding up plans to shut larger shops in the face of a “difficult economic backdrop”. It had been planning to close 67 of its full-line stores, which stock clothes and homeware, within the next five years but will now shut them within three years.
Could be M&S that’s the next to go, after the department stores. General and mixed retailing just might not have a place when any specialist retailer is able to service the entire country…….