Marks and Spencer ‘eyeing up six former Debenhams sites’ after Chesterfield store closure
Marks and Spencer is eyeing up six former Debenhams sites, it has been reported.
“There has rarely been a better time to acquire new replacement stores on good terms and we are planning 17 new or expanded ‘full-line’ stores over the next two years,” the business said in its full-year results on Wednesday.
According to the Financial Times, these could include six locations previously occupied by Debenhams, which has now been liquidated.
The Debenhams store at Chesterfield’s Ravenside Retail Park closed for good earlier this month.
The Derbyshire Times this week asked M&S if the company was interested in the prominent unit.
A spokesperson for the company said: “We don’t have anything to announce, but we will be sure to keep you and the local community updated if this changes.”
On Wednesday, M&S announced plans to shut another 30 stores over the next 10 years.
The firm has already closed or relocated 59 shops and cut 7,000 jobs.
M&S reported big losses for last year as the coronavirus pandemic took its toll on clothing sales.
The retailer suffered a £201million pre-tax loss for the year to March 27 – compared to a £67m profit the year before.
But food sales were up thanks to its Ocado tie-up, contributing to ‘a resilient financial performance in a year of disruption’.
Steve Rowe, chief executive at M&S, said: “In a year like no other we have delivered a resilient trading performance, thanks in no small part to the extraordinary efforts of our colleagues.”