M&S closing 60 stores but jobs in Newbridge are safe

Marks & Spencer is closing 60 stores over the next five years but the outlet in Whitewater in Newbridge is safe.

Some 30 stores will shut completely in the UK and 45 main stores will be downsized or replaced as Simply food as it tries to capitalise on the success of its food and drink products.

M&S reported an 88 per cent fall in pre tax profit to £25 million in the six months to the end of September as sales of clothing and food declined.

Plans were also outlined to shut 53 stores across 10 international markets - including 10 in China and seven in France, while pulling out of Belgium, Estonia, Hungary and Lithuania - putting around 2,100 jobs at risk.

Head of M&S in Ireland Alison Grainger said: "The retailer will continue to operate its profitable business in the Republic of Ireland, where there is strong brand awareness, an established store estate and loyal customer base.

“Customers can continue to shop with us at our 17 Irish stores and via our Irish website.

Experts say that many younger shoppers simply don’t have an emotional bond with M&S clothing like its older customer base.

As a result, they're shopping elsewhere, whether at Next, New Look, Primark and other affordable luxury brands."

M&S revealed its worst first quarter in clothing and homeware sales for almost a decade in July.