The history of Marks and Spencer

M&S traces its history back to 1884 when Michael Marks (left), a Russian-born Polish refugee, set up a stall at Leeds Kirkgate Market. Thomas Spencer (right) joined him in 1894 to create Marks & Spencer Photograph: PR

Spencer was a former cashier from the wholesale company IJ Dewhirst, and his partnership with Marks helped the business grow quickly. In 1901 a new warehouse and head office opened in Manchester. Pictured is a Cardiff store pre-1901 Photograph: PR

The advert from November 1930 marked the opening of M&S’s flagship store at Marble Arch, London. A year later the company opened a food department, selling fresh produce and canned goods Photograph: PR

M&S made its reputation as a retailer of ‘British quality goods’. In the 1970s it still sourced most of its products from the UK - unlike now when they are mostly made internationally Photograph: Getty

Sir Richard Greenbury ruled M&S through the 1990s, and in 1998 it became the first British retailer to make pre-tax profits of over £1bn. It took a decade until it achieved this again. But Greenbury’s reign ended with bitter boardroom infighting Photograph: Ben Curtis/PA

In 2000, in the middle of a sales slide, M&S faced customer complaints over its back-to-basics ad campaign featuring size 16 ‘real women’ in the buff. It was eventually ditched Photograph: PR

The same year, after a prolonged sales slump, chief executive Peter Salsbury (right) was ousted after two years in charge. Chairman Luc Vandevelde (left) took full control of the troubled company as the two roles were merged Photograph: PA

With M&S sales in freefall in 2004 entrepreneur Sir Philip Green plotted a takeover bid. M&S turned to Sir Stuart Rose, then chairman of the British Fashion Council, to turn things around and repel Green Photograph: Graham Turner/Guardian

Rose had been friends with Green, the boss of Arcadia and BHS, and even attended the billionaire’s lavish £5m toga party for his 50th birthday, held in Cyprus. They fell out over Green’s failed £4-a-share bid, but later made up Photograph: Stephen Hird/Reuters

In 2001, Vandevelde closed down 38 stores across France, Germany and Spain in a cost-cutting drive. M&S renewed its international expansion drive recently with the opening of its first store in Dubai in autumn 2006. As well as 600 stores in the UK it now has 240 stores in 34 countries Photograph: PR

M&S launched its Christmas advertising campaign in 2006 with a TV ad starring Dame Shirley Bassey. Done in the spy-movie genre, the ad featured five models including Twiggy and Elizabeth Jagger acting as undercover agents while Bassey delivered her version of Pink’s Get the Party Started Photograph: PR

Ad campaigns starring Myleene Klass, Twiggy, Jagger and Noemie Lenoir have been credited with reviving clothes sales Photograph: PR

Despite losing market share at the start of the year, M&S remains the most popular destination in the country for underwear. Even though its quality has been criticised by Newsnight’s Jeremy Paxman, who was quoted as saying: 'Their pants no longer provide adequate support' Photograph: David Levene/Guardian

'These are not just carrots ... they are M&S carrots.' The retailer’s ad campaign did not prevent the recent slide in food sales. M&S has reported a 4.5% fall in recent food sales and fired its food chief Steven Esom after only one year with the company Photograph: PR

In 2007 British supermodel Lily Cole, pictured here with Rose, joined the retailer's celebrity lineup Photograph: PR

Rose incurred the wrath of major shareholders when he was promoted to executive chairman while keeping the chief executive job. Investors were told only a few hours before the official announcement Photograph: Guardian