By guest author Sahar Nazir from Retail Gazette
- 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 GBP 70 million, Property Week reported.
Fortress, the owner of Majestic Wines, acquired the M&S stores from Topland in 2016.
The original deal saw the investment group pay GBP 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.