Marks & Spencer Expects More Closures

Marks & Spencer (London) revealed that it expects additional closures; the retailer recently announced plans to close 100 locations.

While the company has not detailed how many additional stores it will shutter, it expects the number to grow as it searches for ways to revive the chain following a 2.9-percent drop in food sales, which is the company's biggest drop in that category in a decade, according to Daily Mail. The company has also seen drops in its clothing and homewares sales.

The company explained that many of its stores slated to close were built pre-war and are located on small high street locations that “are not fit for the future,” according to Chief Executive Officer Steve Rowe.