Battling British retail giant Marks & Sepncer today announced it is selling its Spanish stores to a top Spanish department store chain.
The retailer is selling its nine stores in Spain to El Corte Ingles SA. Subject to consultations, M&S will shut up shop in Spain on December 15.
Staff currently working for M&S in Spain will be offered continuity of employment with the new owner.
M&S' international director, David Norgrove, told "We are pleased that we have reached an agreement with El Corte Ingles to acquire our stores in Spain and to offer jobs to our employees which has been a priority objective."

To view related research reports, please follow the links below:-

Retailing In Spain and Portugal

European Retail Markets - Spain

European Retail Markets - Portugal