Jobs could be at risk in Stamford and Bourne as Marks and Spencer reveal plans to close food stores
Jobs in Stamford and Bourne could be at risk as Marks and Spencer revealed more details about its plans to close 110 stores.
It now plans to close 85 clothing stores and 25 of its food outlets, in addition to the 35 shops already closed as part of the company's strategy to streamline its running costs.
It also expects to open 75 food stores as part of a restructuring programme.
The news comes as the latest M&S financial results showed pre-tax profits were down by 9.9%.
The company has food stores in Stamford and Bourne, as well as a Marks and Spencer Simply Food store at the BP garage in Oakham.
The Bourne store opened in March 2018, while the Stamford store has been open for many years. The Oakham garage opened in November 2014.
A M&S spokesman was unable to give any details about exactly which stores will close, but said staff would be informed first.
Chief executive Steve Rowe, said: "We are deep into the first phase of our transformation programme and continue to make good progress restoring the basics and fixing many of the legacy issues we face.
"As I have said, at this stage we are judging ourselves as much by the pace of change as by the trading outcomes and change will accelerate in the year ahead.
"Whilst there are green shoots, we have not been consistent in our delivery in a number of areas of the business.
"M&S is changing faster than at any time in my career - substantial changes across the business to our processes, ranges and operations and this has constrained this year's performance, particularly in Clothing & Home.
"However, we remain on track with our transformation and are now well on the road to making M&S special again."