British fashion retailer Marks & Spencer (M&S) has, reportedly, stated the closure of 11 franchise stores in France with partner SFH.
The retailer has blamed Brexit for the move and said that stores may close by the end of this year.
Owing to supply chain obstacles, the retailer has been lately struggling to supply French stores with products on time. There have been delays due to red tape at the UK/French border, following which closing down stores seems to be the only solution.
However, 9 M&S stores running at French travel hubs will continue to function as earlier.
More on the closures, Paul Friston, MD (International), M&S, has said the complexities in supply chain owing to UK’ exit from EU make it almost impossible to set the high standards that customers always expect from M&S.
Here it is important to state that its French online operation that mainly sells apparels and home products will not be impacted by store closures.
M&S was founded in 1884 and generated revenue of £10,181.9 million in 2020. It had opened its first French stores back in 1975.