Marks & Spencer plans to close 30 full-line stores and convert 45 branches into food-only outlets in the UK.
This is a part of a major turnaround strategy that will reduce retail space devoted to its struggling clothing ranges.
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More than 100 outlets are under the overhaul plan, which intends to end the slump in apparel sales and allocate more retail space to its successful food business.
According to Marks & Spencer chief executive Steve Rowe, there are plans to open 200 new Simply Food stores, reported The Guardian.
With 304 full-line stores, the retailer is yet to disclose which of the 30 stores will close, as well as the 45 outlets will be converted.
Conversions and closures are expected to take five years to complete.
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By GlobalDataM&S also intends to relocate underperforming stores.
All these changes will lead to reduction of 10% in retail space and this plan is expected to cost £150m over three years.
The overhaul plan also includes the closure of 53 underperforming stores in ten countries.
Of the 53 outlets, ten are in China, seven in France and the remaining in Belgium and Hungary. These store closures could axe more than 2,000 jobs.
Company-owned outlets in Hong Kong, the Czech Republic and Ireland will continue to operate.
