Marks & Spencer is leaving the Romanian market. The news comes 16 years after the UK retailer opened its first store in Bucharest. In addition to shutting its six stores in Romania, the company is also planning to close its stores in Estonia, Hungary, Lithuania, Poland, Slovakia, the Netherlands and Belgium. M&S will also close 10 stores in China and seven in France.
“The proposals were developed by Marks & Spencer after a comprehensive analysis of its 466 international stores to get a clear picture of the company’s activity in the present and the determinants of outcomes. The analysis examined the performance and potential of each of the international markets where the group is present,” the company said in a statement.
