Marks & Spencer has announced it will close more than 100 stores by 2022 - as part of its target to take at least a third of sales online.
Twenty-one stores have already closed and the retailer has now revealed the location of 14 further sites it plans to shut - three of these will cease trading by the end of July, while two will close next year.
The remaining stores have been "proposed for closure" - though we DON'T yet know which these stores are. M&S will now enter a period of consultation with employees.
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Which stores could close?
The 14 stores we've been told today will close are:
- Bayswater, Fleetwood Outlet and Newton Abbot Outlet – all three of which will close by the end of July 2018.
- Clacton and Holloway Road – which will both close by early 2019 to coincide with new nearby Food stores opening.
- Darlington, East Kilbride, Falkirk, Kettering, Newmarket, New Mersey Speke, Northampton, Stockton and Walsall – these are proposed for closure and will now enter a period of consultation.
With a total of 100+ stores set to be shut by 2022 and 21 already having closed since 2016, we can expect at least another 65 store closures to be announced in the next four years. We don't yet know which stores these will be though.
What does Marks & Spencer say?
Sacha Berendji, retail, operations and property director at Marks & Spencer said: "We are making good progress with our plans to reshape our store estate to be more relevant to our customers and support our online growth plans.
"Closing stores isn't easy but it is vital for the future of M&S. Where we have closed stores, we are seeing an encouraging number of customers moving to nearby stores and enjoying shopping with us in a better environment, which is why we're continuing to transform our estate with pace."