Fortress plans to sell 17 M&S stores in £70m deal

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// M&S stores at risk as investor Fortress plans to sell 17 UK shops
// Fortress, the owner of Majestic Wines, acquired 17 M&S stores in 2016

Marks & Spencer stores across the UK are reportedly at threat as US investor Fortress reveals plans to offload some units.

The investment company is considering selling 17 M&S stores across the UK for £70 million, Property Week reported.

Fortress, the owner of Majestic Wines, acquired the M&S stores from Topland in 2016.

READ MORE: M&S to sell chocolatier’s product after it was accused of copying design

The original deal saw the investment group pay £450 million for 76 stores, which also included some non M&S income.

The nationwide portfolio is understood to be let to the up-market grocery chain for a further 5.2 years.

Most sites are being marketed on a freehold basis, with Colliers and HP Four instructed to seek buyers.

Locations for the sites include Kirkcaldy, Andover and Dundee.

In March 2021, M&S revealed plans to downsize the number of stores selling both clothes and food by 30% to 180 outlets.

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