Marks and Spencer makes 'difficult decision' to close Newmarket store on August 11
PUBLISHED: 11:42 18 June 2018
Retail chain Marks and Spencer has confirmed the closure of its Newmarket store with the loss of 38 jobs.
The retailer, which is set to close 100 stores by 2022, said it was still in negotiation with staff at the branch on a case-by-case basis about the possibility of transferring to other stores, such as Bury St Edmunds or Cambridge. Previous processes had resulted in about 70% of staff moving to other stores, it said.
Calum Telford, head of region for East Anglia at Marks & Spencer, said: “Proposing to close the Newmarket store was a difficult decision. Over the past few weeks we’ve been consulting with our colleagues and, following this rigorous process, the decision has been made to close the store on August 11.
“We’d like to thank the local community and our customers for the feedback they’ve given over the last few weeks. We’ll continue to serve customers from our nearby stores in Cambridge and Bury St Edmunds.”
Earlier this year, the high street chain announced radical plans to revive its fortunes. The high street giant reported a 62.1% fall in pre-tax profit to £66.8m in the year to March 31 – dragged down by £321.1m of costs linked to store closures.