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Doug Faulkner doug.faulkner@archant.co.uk@DougFaulknerG PUBLISHED: 08:39 25 May 2018 | UPDATED: 12:24 25 May 2018

It has been a bellwether for the high street for more than a century; its buildings dominating the centre of cities like Norwich and its name a by-word for quality.

But there have been troubles at Marks and Spencer over the last decade and this week came to a head with the announcement it is to close 100 stores by 2022.”

The first British retailer to make a pre-tax profit of more than £1bn, back in 1998, announced profits had fallen 62% to £66.8m in the 12 months to March 31.

So what has gone wrong at M&S?

 

The struggles of other retailers such as Toys R Us, Maplin and New Look have been well documented but increased business rates, high rents and online competition – which have caused strife for those names – are not the only forces at work for M&S.

 

The first British retailer to make a pre-tax profit of more than £1bn, back in 1998, announced profits had fallen 62% to £66.8m in the 12 months to March 31.

But there have been troubles at Marks and Spencer over the last decade and this week came to a head with the announcement it is to close 100 stores by 2022.

 

The first British retailer to make a pre-tax profit of more than £1bn, back in 1998, announced profits had fallen 62% to £66.8m in the 12 months to March 31.

The struggles of other retailers such as Toys R Us, Maplin and New Look have been well documented but increased business rates, high rents and online competition – which have caused strife for those names – are not the only forces at work for M&S.

 

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