Marks & Spencer Plans to Close 100 Stores

Marks & Spencer (London) announced that it plans to close 100 stores located throughout the U.K., which amounts to about 10 percent of its fleet. The closures are expected to be completed by 2022.

Instead, the retailer is encouraging shoppers to go online for purchases. It hopes that, in time, about one-third of its sales will come from e-commerce.

The retailer shared that the closures, as well as scaling back new openings, is part of a five-year plan “to make M&S special again,” according to CNNMoney. The company said the closures are “vital” to the retailer’s future.