British retailer Marks & Spencer may leave French market

International retail chain Marks & Spencer (M&S), which was forced to incur losses in the EU, announced the possibility of changing its policy in France last Sunday.

New trading rules that have been introduced as a result of Brexit are ruining businesses and creating problems with the availability of goods in the chain's stores. The company, which returned to the market about 10 years ago, is currently under the serious pressure on its business.

The retailer has released information that products are delayed at the border of the UK and France, returning back in a spoiled state. Sales outlets in France are empty, as the authorities have introduced severe restrictive measures that impede international trade with the European countries.

The company has not yet left France, but this may happen in the nearest future. M&S management is in negotiations with partners operating in France under franchise agreements. It is still unknown, how they will end. However, the chain's customers have already experienced a significant reduction in the range of perishable goods. There are noticeably fewer fresh products in M&S stores.

It is known that the company has about 20 retail outlets in France, which are jointly operated with the SFH and Lagaro companies. Experts admit that the British retailer may soon stop selling food there.

The change in customs policy has already influenced the export operations that the company carries out in the Czech Republic, noted a representative of M&S’s management. In 2021, the company changed its assortment policy, having started to supply long-term storage products to Prague. The similar fate may now await France. Despite the existing problems, the retailer's shares grew up by 37% this year.