Marks & Spencer has said it is speeding up a major shake-up of its stores estate which will result in the closure of 67 more shops.
The retailer announced back in 2019 that long-term plans are now set in place to axe 110 stores, as part of an overhaul to the way people shop. STV News reports that the group seeks to focus more on its grocery business and online operations.
Back in September, the Edinburgh Ocean Terminal store in Leith was set to be shut down.
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The retail giant has said that the company will open 104 more Simply Food outlets over the same period that it is shutting other stores down, with many expected to reopen in the same area or location.
The only other Scottish store that has announced its departure from the high street so far has been Glasgow's Sauchiehall M&S, as it is to be transformed into a residential and retail complex. M&S has not yet detailed which locations or how many jobs will be affected by the plans.
The shake-up will take place over the next five years, but bosses say they are aiming for it to be completed in three. The retailer is planning on speeding up the process in order to save approximately £309 million in rent costs.
In 2021, M&S said that it planned to reduce its clothing and home stores from 247 down to 180 establishments. This is around one in four stores that would be set to close.
Marks & Spencer has already closed 68 stores in recent years, but its efforts to cut its rent bill were disrupted by the pandemic. Scott Munro, Regional Manager for Scotland East commented: "Shopping habits are changing and we’re reshaping our store estate across Scotland and the UK to make sure we’re reflecting the needs of our customers. As part of this transformation, we have today announced to colleagues our decision to close the M&S store at Ocean Terminal later this year.
"Our priority is to support our colleagues through these changes and we are confident of being able to offer new roles to the vast majority of those affected. We are committed to Edinburgh and this decision means there are more opportunities to invest in our eight other stores across the city."
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