All 11 grocery stores operating under the franchise system and managed by its partner, SFH, in France announced today that it will close in the coming months British retail company Marks & Spencer in the wake of Brexit.
The reason is the new trade rules that have been in force since Britain left the European Union affect the availability of products.
The group said the remaining nine branches of the franchise network, which is managed by the Lagardere Travel Retail group, will continue to operate and that the two partners will continue to work for a sustainable future business model.
M&S president Archie Norma has been complaining for months that the company has been struggling to ship products to Ireland and France, EU member states, since Britain withdrew from the EU single market earlier this year due to huge volumes. additional documents required.
The 11 stores, which will close by the end of the year, are located mainly on well-known shopping streets in Paris.
The nine stores managed by Lagardere are located mainly at means of transport, such as airports, train stations and metro stations.
“M&S has a long history of serving customers in France and this is not a decision that we or our partner SFH take lightly,” said Paul Friston, the group’s head of international operations.
Source of RES EIA
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