Another retailer has confirmed its interest in buying Marks and Spencer's 18 stores in France. French department store group Pinault-Printemps-Redoute is looking for prime sites to expand the 17-store Printemps chain and has confirmed its interest in the shops said The Observer.

A conflicting story in France's La Tribune, says that US retail group Wal-Mart has reportedly made an offer for M&S's stores on mainland Europe. It also puts specialist Japanese clothing chain Uniqlo in the running to buy the stores. 
 
M&S announced in March that it was pulling out of mainland Europe. The stores are set to close by the end of the year, but the company has been looking at alternatives, including possible buyers. It is said to favour a French purchaser, which casts doubts on the deal with Wal-Mart.

A deal with a French buyer might also go down well with the French courts. They are currently investigating Clive Nickolds, the head of overseas subsidiaries at M&S, for allegedly failing to consult the stores' staff on the closures, and could look more kindly on M&S if a deal with a French buyer is in the pipeline.


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

Retailing In France

The Pan European Brand