More than a dozen potential closing sites nationwide have been verified by Marks & Spencer.
In order to expand its famous Foodhalls, the department store revealed last year that it will be shutting 67 of its bigger stores.
Seven “poor productivity, full line stores” have been identified as candidates for closure, however M&S stated consultations are still being conducted.
Store closures are planned for East Kilbridge, Castleford, Edinburgh, Cardiff, Wrexham, Middlesbrough, and Bolton.
That comes after retail behemoths TK Maxx and B&Q announced shop closings last week, dealing another another blow to the beleaguered British high street.
On February 25, the first of the retailers at the East Kilbride Shopping Centre will shutter, with other closures scheduled for later in the spring.
The Newport Road store in Cardiff and the Carlton Street store in Castleford are two other locations that will shut in the coming weeks.
While the retail giant plans to establish a Foodhall in the neighboring Plas Coch Retail Park, the Eagles Meadow shop in Wrexham is scheduled to close in the fall.
The number of potential job losses or whether employees would be transferred to the new sites have not been verified by the corporation.
In an attempt to save £300 million, M&S said in October that it will close 67 stores nationwide, including reducing a £100 million energy expense.
By early 2028, M&S plans to operate 180 “full-line” stores providing food, apparel, and home goods, down from 247, according to M&S Chief Executive Stuart Machin.
M&S’s stores consume around 80% of the company’s energy, therefore by closing some of them, the company will be able to save money by using less lights and freezers. It is also believed that staffing expenses have increased by 7%.
While the plan is expected to take place over the next five years, managers want to have it finished in three.
In spite of strong online growth, it will result in a 20% decrease in store space devoted to apparel and household goods.
M&S has not said which stores or how many employees the proposals would effect.
In addition, the store will establish 104 more Foodhalls during the same time period as a result of the relocation, many of which are anticipated to reopen in the same region as facilities slated for closure.
M&S said in January that it will be establishing many new outlets, including full-line stores and foodhalls.
According to a spokeswoman, the company revealed plans for £480 million in “larger, better shops” around the UK.
Our shop rotation and investment program aims to ensure that we have the proper stores, in the proper locations, with the proper amount of space.
Although some shops will be closed as part of the store rotation program, other stores will be relocated and new ones will be opened in other parts of the nation, the spokesperson said.
Although our store rotation policy necessitates the closure of certain shops, it also entails moving existing stores and creating new ones in other parts of the nation.
“We are launching 20 new shops throughout the UK in the next year alone, including brand-new M&S stores in Leeds, Liverpool, Birmingham, Manchester, Thurrock, and Purley, as well as new M&S Foodhalls in places like Stockport, Wrexham, Barnsley, and Largs.”
As a result of businesses closing their stores owing to increasing inflation and energy costs, the British high street will undergo significant changes.
After a “intense evaluation,” B&Q is shutting eight of its Asda mini-stores designed after Covid.
Along with the closure of the December 2021-opened shops in Hartlepool and Great Bridge, stores in Sheffield, Dagenham, Roehampton, and Edmonton will also close.
The well-known DIY business said that closures would start on March 11 and that around 57 employees would get employment offers elsewhere.
Further shutting their doors are Homesense and TK Maxx, which are owned by the same corporation.
While Homesense stores in Manchester and Swansea shut, Meadowbank TK Maxx in Edinburgh opened its doors to customers for the last time on February 15 when the landlord terminated the lease.
While the firm has said no more closures are planned, high street pharmacy Boots intends to shut three locations in the UK.
On February 25, a store in Salford’s retail center will shut, and on March 11 Malvern and Ellesmere will follow suit.
Of the approximately 40 Wetherspoon pubs that were up for sale, 11 have already been bought.
Numerous well-known pubs and historic buildings have been purchased, although they will still sell beer to the public.
The Running Horse at Doncaster Airport, the Mail Order in Worcester, and the North and South Wales Bank in Wrexham, together with pubs in Orpington, Wick, and Bodmin, have all been sold.
In the city, which is proving to be a hotspot for would-be owners, there are eight London pubs up for sale.
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