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Marks and Spencer may abandon development projects

Marks and Spencer is reportedly considering dropping dozens of building and development projects across the country.

The projects, which include shopping centres and town regeneration projections, may be abandoned as the retailer reviews its current operations, according to the Daily Mail.

Marks and Spencer is already said to have pulled out of a £100m project in Rochdale, with Rochdale council chief executive Steve Rumbelow telling the Daily Mail that the council could take legal action against the retailer. Other locations supposedly at risk include Morecambe and Chorley.

An M&S spokesman told Drapers the reports were “rumour and speculation”, saying: “As part of our transformation programme, we are reviewing potential store openings and will only proceed with sites that will deliver the highest returns. We will provide an update when the time is right.”

Readers' comments (1)

  • I don't blame M&S. Black Friday has shown that Bricks & Mortar isn't the future and that channel has only a limited potential.

    M&S needs to rationalise and downsize.

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