Marks & Spencer is to close at least 30 shops and 'restructure' 70 more after revealing a £201million loss in the face of Covid.
M&S has 250 sites selling clothes, homeware and food but will reduce this to just 180.
Some stores will be transformed into “food only” and others will be moved to new locations, reports The Mirror.
"Our objective for the full line estate is to achieve a fully modernised core of 180 stores," Wednesday's trading statement said.
"Our current best view of the future estate based on stress tests, regional modelling and current retail and efficiency requirements is as follows."
Around 100 shops will either become a food only store, will close, will move or will merge with another branch.
"In around 30 locations which can no longer support a store we will close, recapturing trade in nearby stores or online," the grocer said.
M&S saw its clothing and home business report a 31.5% slump over the last year.
Steve Rowe, chief executive at Marks & Spencer, said: "In a year like no other we have delivered a resilient trading performance, thanks in no small part to the extraordinary efforts of our colleagues.
"In addition, by going further and faster in our transformation through the Never the Same Again programme, we moved beyond fixing the basics to forge a reshaped M&S.
"With the right team in place to accelerate change in the trading businesses and build a trajectory for future growth, we now have a clear line of sight on the path to make M&S special again.
"The transformation has moved to the next phase."
