Marks and Spencer has agreed terms to open its first store on the Spanish high street amid plans to shut down around 100 of them in the UK.
The bellwether retailer has chosen Malaga for its new location, which will be its second site in Spain and but its first on the high street.
While the new store in Malaga is 4305sq ft in size and situated in the historic centre of the city, it will only house M&S’s lingerie line compared to the full-range branch at the shopping centre in Marbella.
The news comes M&S ploughs ahead with its five-year turnaround scheme, aiming to make cost reductions of £350 million by 2021.
This includes plans to shut down 100 underperforming stores by 2022, putting hundreds of jobs at risk.
The turnaround scheme also includes creating fewer, more efficient yet enhanced clothing and home stores, online investment, as well as converting some stores to food-only.
