Recession? Marks & Spencer To Shut 60 Stores After Half-Year Profit Plunge Warning

Biko, it seems Nigerians 'haf' started buying Naija due to the economic crash, who wan buy 10k t-shirt where Yaba stock looks relatively affordable? Marks & Spencer is to close 60 clothing and home stores as it posts an 18.6% plunge in half-year profits.

In a radical shake-up of its business model to cut costs as part of a revival plan, will close about 30 full line UK stores and change around 45 stores to only sell food. Other UK stores would be re-located.


The full list of closures has not yet been revealed but M&S plans to shut 53 stores across 10 international markets - including 10 in China and seven in France, while pulling out of Belgium, Estonia, Hungary and Lithuania - putting around 2,100 jobs at risk.