M&S to axe four stores

Marks & Spencer is to close four of its under-performing stores.

M&S to axe four stores

Next year will see three Lincolnshire shops – Grantham, Scunthorpe and Skegness – shut, along with the Nuneaton, Warwickshire branch.

M&S says sales at the stores had been declining for some time and that they are no longer financially viable.

Meanwhile, the retailer has announced that Robert Swannell will take over from Sir Stuart Rose as chairman on January 2 next year. Swannell is currently chairman of entertainment retailer HMV, a role which he will retain.

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