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Wednesday May 22, 2024

Marks and Spencer to shut down 111-year-old store in London

A 111-year-old Marks and Spencer store in south London to close down in July

By Web Desk
April 17, 2024
The Marks and Spencer store in south London. — The Sun
The Marks and Spencer store in south London. — The Sun

The Marks and Spencer store in south London, a local favourite for over a century in London, is set to close its doors permanently.

Its impending closure was first hinted at in March, and the confirmation has left many shoppers expressing their sadness on social media. Comments range from "It's so depressing to lose it" to "We won't have anything down Walworth Road soon, very sad."

In south London, a cherished Marks and Spencer store, a fixture for over a century, is bidding farewell.

The shutters of the century-old shop will come down for the last time on June 8, marking the end of a 111-year presence in the community. Londoners took to social media to express their dismay.

Gordon Scott, M&S regional manager, expressed gratitude to loyal customers and assured continued service until closure.

Gordon Scott, M&S regional manager, thanked the store's loyal customers and assured them that they would continue to be served at other nearby M&S stores.

"We would like to thank all of our customers who have shopped in the store over the years, who we will keep serving up until closure and beyond that, from our other stores nearby and across London," he said.

"After consulting with our colleagues, we have informed them of the closure and our priority now is continuing individual discussions about what this decision means for them. Wherever possible, we will offer them alternative roles with M&S."

He also stated that the company's priority is to discuss the implications of the closure with the staff and, where possible, offer them alternative roles within M&S.

The closure is part of a larger strategy by M&S to optimise its store network for an enhanced shopping experience.

In 2022, the company announced plans to close underperforming 67 stores as part of a strategic overhaul. The company believes these stores have lower productivity. Similar adjustments have been observed across the sector, with retailers like Iceland, Boots, and Argos streamlining operations amid economic challenges.

Despite these closures, M&S also plans to open more stores, with 20 new stores announced for the financial year of 2023 and 104 new food stores.

The retail landscape is changing, with many companies, not just M&S, adjusting their high street presence. Rising rents and living costs have put pressure on retailers that led to closures.