Question mark over Grantham's M&S Simply Food as retail giant announces store closure plans

M&S has today (Wednesday) announced it is to close 110 stores - including 25 food outlets - as latest financial results show profits are down.

Stores and food outlets earmarked for closure have not yet been announced so it is not known whether Grantham's Simply Food store in London Road is affected.

The retail giant has already shut 35 shops as part of its strategy to streamline its running costs.

It also expects to open 75 food stores as part of a restructuring programme.

The news comes as the latest M&S financial results showed pre-tax profits were down by 9.9 per cent.

A M&S spokesman was unable to give any details about exactly which stores will close, but said staff would be informed first.

Chief executive Steve Rowe, said: "We are deep into the first phase of our transformation programme and continue to make good progress restoring the basics and fixing many of the legacy issues we face.

"As I have said, at this stage we are judging ourselves as much by the pace of change as by the trading outcomes and change will accelerate in the year ahead.

"Whilst there are green shoots, we have not been consistent in our delivery in a number of areas of the business.

"M&S is changing faster than at any time in my career - substantial changes across the business to our processes, ranges and operations and this has constrained this year's performance, particularly in clothing and home.

"However, we remain on track with our transformation and are now well on the road to making M&S special again."