Marks and Spencer has slashed its clothing sales by up to 90 per cent as it finds ways to survive in the midst of the UK’s tough trading conditions. The struggling retailer presented its end of season sale – which takes place online and in stores, and includes dresses, work-wear, shirts and summer swimwear prices falling down to just £5.
M&S has become one of the victims of the UK’s high street as in the past financial year, it closed 35 stores and opened 48, and now expects to close a further 85 shops and open 20 by 2024. At least 47 M&S stores have now been shut as part of a restructure that forms part of major turnaround scheme.
Last week, it revealed its latest store earmarked for closure, while at the same time, the former McDonald’s chief people officer Harriet Hounsell was appointed as the new human resources director.
