BREAKING: Marks & Spencer stores to close

M&S stores are set to close
M&S stores are set to close
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High Street giant Marks & Spencer has announced it is to close around 60 stores.

The firm also warned of more than 2,100 job losses under plans to axe 53 overseas shops.

The retailer said the UK closures come as part of an overhaul which will affect around 100 stores as it looks to cut back on its clothing and home lines while boosting its Simply Food chain.

Details of the restructure came as it said underlying pre-tax profits fell 18.6 per cent to £231.3 million in the six months to October 1, while bottom-line profits crashed 88.4 per cent to £25.1 million.

Details of which stores will be affected have not yet been announced.

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