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M&S cutting costs with up to 30 closures

Marks-&-Spencer-Cheshire-OaksMarks & Spencers is expected to announce the closure of as many as 30 shops as part of a cost-cutting strategy by new chief executive Steve Rowe.

According to Sky News, the closures are likely to lead to a move towards bigger food halls with smaller clothing areas.

The changes are likely to be made up of a combination of closures, downsizing and relocations. The move could result in thousands of job losses.

Rowe is attempting to turn the business around after a July report of its biggest fall in clothing sales since the 2008 financial crisis.

M&S has 300 full-range shops, 640 food-only outlets, and 400 shops abroad.

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