Could M&S swing the axe on its Leicester, Mansfield and Nottingham stores?

Leicester, Mansfield and Nottingham could face losing a Marks and Spencer store as part of sweeping reforms announced by the retailer last week, according to reports.

New boss Steve Rowe said last week he has put in place a new five-year plan that will see unprofitable stories close, while the company concentrates on its profitable food business.

Now, a prominent retail analyst has revealed the 35 towns and cities with multiple M&S stores which are most likely to face the axe – and they include Leicester and Nottingham, whilst Mansfield is described as a “town in serious decline”.

Matthew Hopkinson, director of retail analyst Local Data Company, is quoted in The Telegraph as saying: ““There are 35 towns and cities that have more than two M&S stores either on the high street, in a shopping centre or on the edge of town in a retail park.

“If one removes the large urban centres such as London, Glasgow and other cities, there are 22 towns where one might question the need for two stores.”

Last week M&S said it was committed to opening 200 new food stores by 2020, with industry insiders saying that some of the stores earmarked for closure could be transformed into food-only stores.