International retailer Marks & Spencer is considering closing retail stores in France. The company is disappointed with the performance of its outlets, which have emptied amid tight restrictions that curb cross-border trade opportunities in Europe.
It is expected that the company may announce store closures across France soon and curtail food sales in supermarkets. The retailer counts losses because of long delays of goods at the border – as a result, products were returned to British warehouses tainted.
Marks & Spencer is currently negotiating with its franchise partners in France over truck delays amid Brexit. The company, which returned to the market nearly a decade ago, is again under severe pressure.
The final decision on the extent of the business wind-down will depend on the terms the retailer agrees to continue to cooperate in France. Previously, the company was forced to reduce the range of fresh products in its supermarkets, replacing them with products with extended shelf life.
