Marks & Spencer is launching a review to downsize around 20 of its largest shops whereby upper floors of stores could be converted into residential or office space.
The retailer has reportedly earmarked around 20 stores in its new plan, This Is Money reports.
Although the company declined to confirm specific locations affected, it is thought that its Marble Arch store in London is on the table. The 89-year-old store has seven floors and also houses staff training accommodation and a press showroom. It is the company’s largest store, with 160,000 sq ft of selling space.
Other locations being considered are understood to be in city-centre locations. Most of those affected are expected to continue trading as M&S on lower floors.
M&S has been contacted for comment.