Marks & Spencer Stores to Close in the PH After Almost Four Decades

(SPOT.ph) If you have been out and about in some malls over the past few weekends, you might have passed by Marks & Spencer stores and noticed that their items are on big discounts. If not, then they have closed down, and only some remain. You might also have caught wind of their exit from the local market in the news or on social media, and might be wondering what's up with the British multinational retailer. Here's an answer: they're closing up shop here.

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According to a company disclosure (as seen on the Philippine Stock Exchange Electronic Disclosure Generation Technology's site) from Stores Specialists, Inc. (SSI) in response to recent news articles, M&S will "cease operations of Marks & Spencer in the Philippines," citing May 2 of this year as the final day. SSI has been handling M&S's operations in the country for four decades.

"This has not been an easy decision," said the management. "Building Marks & Spencer in the Philippines has been a meaningful and rewarding chapter for our organization. We are deeply grateful to our loyal customers, dedicated employees, and partners who have supported the brand through the decades."

The first M&S store in the Philippines opened in the late 1980s, bringing quality British fashion and heritage within the reach of Filipinos. According to their website, there are still around 13 M&S stores nationwide. They offer apparel for women, men, and kids, as well as fragrances and other beauty products under one roof. They also have a wide range of premium packaged food and wine—and, of course, their digestives that we stock up during Christmastime as no-fail gifts.

Marks & Spencer started in 1884 in Leeds, England, and has since become a well-known retail chain worldwide.

"Retail is constantly transforming. Change is inevitable, tastes evolve, and therefore so should we," management added. "We remain committed to the constant strengthening of our portfolio and delivering experiences that resonate with today's consumers."

SSI stated that they will be "working closely with employees, partners, and stakeholders to ensure a responsible and respectful transition as operations wind down." Until their closure in May, customers can expect further details like timelines, promotions, and customer advisories.

Along with many of you, we're keeping our eyes peeled.