// M&S reportedly looking to shrink flagship stores via a review of its 20 biggest stores
// Could lead to upper floors being converted to residential or office space
// M&S has not confirmed the details but city centre stores are thought to be the main target
Marks & Spencer is reportedly about to launch a review of around 20 of its largest stores, which could lead to downsizing schemes as it pushes on with its turnaround strategy.
According to This Is Money, the retailer could potentially convert the upper floors of these stores into residential or office space.
M&S has reportedly put together a team led by asset management director Andrew Turton and head of asset management Abhimanyu Agarwalla to lead the review.
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Plans are also reportedly in place to hire a finance manager and specialist surveyor.
It is not yet clear which 20 stores would be affected by the review, should it go ahead, but it’s thought that the Marble Arch flagship in central London would be on the table.
With 160,000sq ft of selling space, the Marble Arch store is M&S’s biggest, comprising seven floors while also being home to M&S’s staff training accommodation and a press showroom.
Other locations being considered are reportedly in city-centre locations.
The stores affected are expected to continue trading as M&S on lower floors.
M&S has already made a raft a store closures across the country as part of its turnaround strategy, while its more recent store openings have been much smaller.
M&S has not yet provided comment.