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Is Marks & Spencer to close Champs-Elysées store?

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Is Marks & Spencer to close Champs-Elysées store?
Photo: AFP
16:40 CEST+02:00
British retailers Marks & Spencer plans to close its store on the Champs-Elysées, according to reports.
Most Brits in Paris will remember the hype when Marks & Spencer re-opened in Paris in 2011, with a three-storey shop of 1,400m2 on the world's most famous avenue, the Champs-Elysées.
 
The store itself says the queue at the entrance lasted for over 20 days.
 
Its opening came ten years after all 18 stores in France were shut down as part of a re-structuring strategy. 
 
And now it's about to close again, it seems. 
 
Yes, the flagship French store is set for closure, according to Bloomberg, which cited its source as a person "familiar to the matter".
 
The decision is said to be part of CEO Steve Rowe's cost-cutting programme, and is expected to be officially announced on November 8th.
 
A spokesperson for the British company refused to confirm the story for The Local on Friday afternoon. 
 
"We don't comment on rumour and speculation," the spokesperson said. 
 
"We will update on our international business at our interim results in November."
 
It remains unknown what will become of the several other Marks & Spencer stores dotted across Paris.
 
The closure of the company's 18 stores ten years ago caused disappointment among French fans and British expatriates, as well as anger from unions over the 1,700 job losses that resulted.
 
The store set for closure, at number 100 on the Champs-Elysées, sells food, womenswear, and lingerie. 
 
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