Marks & Spencer remains committed to opening a new store in Bradford’s £320 million Westfield retail development when it goes ahead.
This is in spite of announcing its worst trading results for a decade with like-for-like sales over the Christmas period down by seven per cent compared with 2007.
In a bid to cut costs by £200 million, M&S is to axe 1,200 staff and close 27 stores, manly smaller food outlets, none of them locally. The only Yorkshire store destined for closure is in Ripon.
A company spokesman said the trading downturn and closure plans would not affect any stores not named nor any proposed store developments.
Neither did it have any impact on the company’s plans for a key distribution centre at Rooley Lane, Bradford, although last year M&S indicated the time-scale for this development was being reviewed.
The spokesman confirmed that M&S was still scheduled to become an anchor tenant at the eagerly-awaited Westfield development.
Australian-based Westfield has invested more than £50 million in the Bradford development site on Broadway but has delayed construction due to the economic downturn. A campaign to attract more tenants continues.
M&S, along with Debenhams and Next which have also committed to taking significant space, form the cornerstone of the development on Broadway.
As and when the mall is built it will mark a return to Bradford by Debenhams after more than 30 years. The high street chain owned the former Busby’s department store on Manningham Lane.