Marks & Spencer Shutting Down All China Stores

By Bridget O'Donnell

Beloved British retailer Marks and Spencer has announced it will close all of its remaining China stores, according to The BBC.

The brand entered China in 2008 and currently has 10 stores on the Mainland. But sales and profits have lagged, and the chain will be shutting a number of stores worldwide.

This will no doubt come as a blow to all you Anglophiles, who are just recovering from M&S shutting five of its Shanghai locations last year.

No word yet on when the stores will close for good, but The Guardian notes that the closure of 53 stores worldwide will cost the brand up to GBP£200 million over the next 12 months.

[Image via Wordpress]

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