Marks and Spencer store closures: 100 shops to close across UK - is YOUR store affected?
MARKS and Spencer has announced the closure of more than 100 stores over the next four years due to underperformance for several years, the high street company has confirmed.
GETTY
The popular UK department store has faced another crippling year as it struggles to compete with bargain stores and online retailers.
Marks and Spencer has named 14 stores which are earmarked for closure on Tuesday, having already shut 21 shops.
Stores earmarked for closure on Tuesday, include London's Bayswater and Holloway Road, with a total of 872 employees affected.
The move is part of a five-year turnaround plan spearheaded by chairman Archie Norman and chief executive Steve Rowe.
Closing stores isn't easy but it is vital for the future of M&S
They have been seeking to save costs through store closures and shutting distribution centres as part of a wide-ranging efficiency drive as the company's financial performance deteriorates.
Sacha Berendji, retail and property director at M&S, said closing stores was "vital" for the future of the high street favourite, with all 100 closures expected by 2022.
She said: "We are making good progress with our plans to reshape our store estate to be more relevant to our customers and support our online growth plans.
"Closing stores isn't easy but it is vital for the future of M&S. Where we have closed stores, we are seeing an encouraging number of customers moving to nearby stores and enjoying shopping with us in a better environment, which is why we're continuing to transform our estate with pace."
The closures will affect its clothing and home stores, which have underperformed for several years.
The High Street is taking a battering over recent months, with Carpetright, New Look, Toys 'R' Us and Maplin all announcing major closures in towns across the country this year.
Bayswater, Fleetwood Outlet and Newton Abbot Outlet will close by the end of July 2018.
Clacton and Holloway Road will both close by early 2019.
GETTY
Darlington, East Kilbride, Falkirk, Kettering, Newmarket, New Mersey Speke, Northampton, Stockton and Walsall are proposed for closure and will now enter a period of consultation with all 626 affected employees.
The news comes a day before the retailer is expected to unveil another troubling set of annual figures.
Wednesday's results are set to show that underlying pre-tax profit across the group fell 6 per cent to £573 million.
Last month Toy R’ Us announced it was all its stores across the UK after facing similar financial struggles in the US.
GETTY
Carpetright also announced in April that it was shutting 92 stores after difficult trading.
Meanwhile New Look fashion chain said it was closing 60 of its stores in a bid to say afloat after a drop in sales revenue.
And House of Fraser has announced they will close stores in the hopes of staying open.