Revitalizing London's High Street: Marks and Spencer Pledges £12.5 Million Investment
Revitalizing London's High S...
Subscribe to Newsletter

Revitalizing London's High Street: Marks and Spencer Pledges £12.5 Million Investment

26 April 2023
2150
1 min.
3
Revitalizing London's High Street: Marks and Spencer Pledges £12.5 Million Investment

Revitalizing London's high street

London's high street is on "life support," according to Stuart Machin, CEO of Marks and Spencer, as the company pledges £12.5 million of investment to revitalize the city's retail landscape. The historic retailer has vowed to create over 200 new jobs with the opening of a new M&S store in Croydon and an M&S foodhall in Earlsfield.

In an Evening Standard letter, Machin voiced his disapproval of the government's elimination of tax-free shopping for foreign visitors. He asserts that this move is hindering London's growth, while other cities are seeing positive results. Machin also expressed his concern about the increasing number of gaudy candy stores and unruly behavior, which he claims is causing foot traffic to remain 11% below pre-pandemic levels.

M&S is continuing its investment in store improvement with plans for redevelopment of its Marble Arch location. The company invested £10 million in London stores last year, and the proposed new store will include offices, a cafe, and a gym. Despite encountering strong opposition, M&S is eagerly awaiting a final decision from the government's Levelling Up Secretary.

The new investment and job creation plans represent a significant commitment from M&S to support London's economy and help it bounce back from the pandemic's impact. Machin's call to action to revitalize the high street is a timely reminder that we must not take our city's retail landscape for granted, and we all have a part to play in supporting its recovery.

Persons1 and Companies2 in the news

Chief Executive Officer of Marks & Spencer
1 place
Section:
Source foto:
flickr.com
Rating companies
Instagram
14 Mention
ITV
10 Mention
Daily Mail
10 Mention
The Sun
8 Mention
Labour Party
6 Mention
X (Twitter)
6 Mention
The Labour Party
6 Mention
BBC One
5 Mention

ENGLAND NEWS


News GlobalEng.biz -this is the latest and most up-to-date information about the resonant events that have occurred in the region. The task of the resource's news feed is to convey to readers information about important events in business, politics, economics, healthcare, culture and other spheres of life in England with maximum accuracy and objectivity.
News GlobalEng.biz - this is coverage of the economic processes taking place in England, the latest news of public life, incidents and an overview of political events. English news is information about the activities of small and medium-sized businesses, the work of housing and communal services, the implementation of significant projects. The site's journalists describe not only the life of the region, but also talk about the current state of the English economy. Everything you need to know about innovations in the field of industry and agriculture, economy and government is collected in the "News" section on GlobalEng.biz.
News of England promptly informs the reader, shows the real picture and opens up topical topics. Communication with government structures and business gives us the opportunity to provide our readers with reliable, information-rich material.
The main page of the portal contains the key news of England!
Alena Potapova

Development Director
Population
8133799543
Died this year
28749573
Born this year
70729038