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UK’s M&S to close 11 franchise stores in France after Brexit By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO: A woman walks past a Marks & Spencer store on Oxford Street, amid the outbreak of the coronavirus disease (COVID-19), in London, Britain, July 20, 2020. REUTERS/Henry Nicholls/File Photo

LONDON (Reuters) – British retailer Marks & Spencer (OTC:) said it would close all 11 franchise stores with partner SFH in France over the coming months after new trade rules in place since Britain left the European Union hit product availability.

According to the group, nine of its franchises with Lagardere Retail Retail will continue trading and both sides continue their work on creating a sustainable business model.

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