Marks & Spencer to close 30 more stores – will Mansfield town centre shop be safe?
Marks & Spencer has announced plans to shut another 30 stores over the next 10 years.
The company has already closed or relocated 59 shops and cut 7,000 jobs – and has reported big losses for last year as the pandemic took its toll on clothing sales.
M&S suffered a £201m pre-tax loss for the year to March 27 – compared to a £67m profit the year before.
But food sales were up thanks to its Ocado tie-up, contributing to ‘a resilient financial performance in a year of disruption’.
Chad asked M&S if its Mansfield town centre store would be shut or kept open.
A company spokesperson said: “We haven’t made any announcements about any specific store closures and it’s worth bearing in mind that the information being shared in our results is about a long-term programme over several years which we keep constantly under review.”
Steve Rowe, chief executive at M&S, said: “In a year like no other we have delivered a resilient trading performance, thanks in no small part to the extraordinary efforts of our colleagues.
“In addition, by going further and faster in our transformation through the Never The Same Again programme, we moved beyond fixing the basics to forge a reshaped M&S.
“With the right team in place to accelerate change in the trading businesses and build a trajectory for future growth, we now have a clear line of sight on the path to make M&S special again.
“The transformation has moved to the next phase.”