Essential reading for retailers and suppliers in the home improvement market

M&S could face £500m bill for re-organisation plans

Published: 5 December 2016 - Jenny Wonnacott

Marks and Spencer could have to pay at least £500m to fund its plans to close 60 of its stores and invest more heavily in its food business.

M&S has decided to focus more on its food business
M&S has decided to focus more on its food business

The retailer revealed plans to dramatically reduce its home and clothing portfolio last month, with these closures expected to happen over the next five years.

Chief executive Steve Rowe has also announced plans to axe brands Indigo, Collezione and North Coast in 2017. The firm has also revealed that 525 head office jobs are to be cut, as well as those lost through store closures.

Comments


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Register
Printable View E-mail Bookmark
*

What do you think?


Are you confident of strong garden sales this season?


Latest reader comments

re: B&Q invites suppliers to pitch at Innovation Open Day

Brian Eacersall
Hi B & Q innovations Team.I have already sent in an e-mail outlining my design using the request to become a supplier route.However I ...

re: Toolstation.com excels in Which? website survey

Muhammad idrees
Good service and price also good...

re: Mike Ashley calls Debenhams administration a “national scandal”

m orourke
How can senior management at debenhams stay in post whilst abdicating their responsibilies to a bunch of consultants to save the buisness ...

re: B&Q and Valspar partnership to "transform the paint market in the UK"

Tony Turner
A bit of context: first decorating undertaken in 1968, have continued to decorate at DIY and professional level ever since, Wife has ...

re: Builder wins Toolstation's prize draw pick-up

Brian Easton
Brilliant delivery, much help from Daniel and Shakil...

Most read stories