Marks & Spencer to close another 20 stores as profits plunge
(The Guardian Business News)

M&S annual profits almost wiped out by a £440m bill for a modernisation programmeMarks & Spencer is accelerating its retreat from the high street by closing a further 20 of its full-line stores, which sell clothing and food under one roof.The retailer said it planned to close 85 of its big high street stores, on top of the 35 it has already shut. The company is battling the transfer of clothing sales online and it had already told the City to expect about 100 closures. Continue reading...