M&S pull out of Prince's Gate deal

THE plans that M&S had for Mumps.

MARKS & Spencer has announced it will not be opening a new store at Oldham's Prince's Gate development.

The retailer informed Oldham Council of its decision today but said it still wants to open a food-only store in the borough.

It comes after M&S recently confirmed plans to close 30 UK clothing and homeware shops and convert dozens more into food stores as part of a business restructuring following falling sales and profits.

Oldham Council Leader Councillor Jean Stretton said: "We are, naturally, disappointed by this decision. When they first informed us today, Marks & Spencer were clear that although this means they will not be taking retail space at the Prince's Gate site, this does not mean that they're necessarily closing the door on coming to Oldham."

Steve Bennett, Director of Property for Marks & Spencer, said: "This is a not a decision we have taken lightly and we understand that both the council and local residents will be disappointed. However we are modernising and changing M&S for our customers and we believe improving our full line stores in the North West and opening new Food-only stores in the area will better serve our customers and help build the M&S of the future."