M&S to close three UK stores
26 August 2010 09:36
Marks & Spencer is to close three stores in Lincolnshire. The branches in Grantham, Skegness and Scunthorpe will close early next year and around 110 jobs will be affected by the closures.
M&S said that the stores had become commercially unviable.
In other news, the group has announced plans to open its first store in Egypt later this year. The store, opened under an existing franchise partnership with the Al Futtaim Group, will be located at the Dandy Mega Hall shopping centre in Cairo and sell fashion, beauty and home products.
M&S is also planning to open a larger, two floor flagship store in Cairo Festival City shopping mall in spring 2012.
Speaking to albawaba.com, Jon Knight, Marks & Spencer International area manager, said: "We're delighted to be entering into the Egyptian market later this year. Our franchise partner Al Futtaim Group already have a number of stores in the region and we are really pleased to have secured such great shopping locations for these new stores."
Philip Evans, director commercial and retail leasing, AFGRE, said: "Marks & Spencer is an iconic brand in the UK that is known for its service, innovation, excellent quality and value. It is exciting to see the brand expanding into Egypt and we're really pleased that the Marks & Spencer flagship store is to be located at Cairo Festival City. The new store will be a welcomed addition to our retail mix and ensures a great shopping experience for all our visitors."
Bob Willett, CEO, Al-Futtaim Group said: "The new Marks & Spencer stores will offer local shoppers in Egypt a wide range of good quality, great value products. Our customers will be able to choose from wardrobe and homeware essentials, as well as the latest fashion trends, making our aspiration accessible to all."
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