Marks and Spencer to close 100 stores by 2022
The British high street chain Marks and Spencers is to close 100 stores by 2022. It's part of a radical revamp that began 2 years ago. The retailer wants to move a third of its sales online and have bigger stores but fewer of them. Of the closures, 21 shops have shut already with a further 14 to close their doors in the next year.
Its thought hundreds of jobs are now at risk but Sacha Berendji the director of retail operations at the company said: "Closing stores isn't easy but it is vital for the future of M&S ". ````````Last year the incoming chairman of the retailer accused the struggling store chain of “drifting” for more than 15 years and pledged to turn the business around.