Marks & Spencer to lose status as number 1 clothing retailer to Primark this year

After dominating the UK clothing market for decades, Marks & Spencer is set to lose its number one position to Primark this year, according to GlobalData. Marks & Spencer announced it has earmarked 14 stores for potential closure this Thursday, which sits in line with its broader turnaround plan. In total, M&S aims to close over 100 shops by 2022.