Why cease Marks & Spencer’s Philippine store operations?

British lifestyle brand Marks & Spencer (M&S) will have its stores shut down by its Philippine distributor, Stores Specialists Inc. (SSI) after nearly 40 years.

SSI is a 100-percent owned subsidiary of the SSI Group.

Since the stores would operate only until 2 May 2026, M&S is offering discounts of up to 50 percent off in all its stores nationwide.

“Buy three or more and get an additional 20 percent off on all items,” the brand says on its website. The promo runs until 4 April.

Other offers include “buy three and get the fourth free” on skincare. Other promos, such as free deliveries for food and online purchases of clothes, run until 31 December.

As a public company, SSI Group disclosed to Philippine Stock Exchange (PSE) developments about M&S.

According to the 23 February 2026 report that SSI Group filed to PSE, the first M&S store was opened in the Philippines almost 40 years ago and since then, under SSI’s stewardship, the brand has been an important part of the Philippine retail story. Throughout this journey, SSI has worked closely with M&S to bring British quality, heritage and innovation to generations of Filipino customers.

“This has not been an easy decision,” SSI said.

“Building Marks & Spencer in the Philippines has been a meaningful and rewarding chapter for our organization. We are deeply grateful to our loyal customers, dedicated employees and partners who have supported the brand through the decades.”

According to the company, as consumer tastes and shopping behaviors continue to evolve, SSI believes it is both prudent and necessary to channel its energy and resources toward brands that reflect the current and future direction of the market. While the company recognizes the significance of this transition, it also views change as an essential part of growth.

“Retail is constantly transforming. Change is inevitable, tastes evolve and therefore so should we,” the company’s management added. “We remain committed to the constant strengthening of our portfolio and delivering experiences that resonate with today’s consumers. SSI will work closely with employees, partners and stakeholders to ensure a responsible and respectful transition as operations wind down. Further details regarding timelines, promotions and customer advisories leading up to 2 May 2026 will be communicated in due course.”

Reuters, in November last year, reported that M&S was revamping its supply chain after the 141-year-old retailer lost 300 million in British Pounds from cyberattacks in April last year, which paralyzed its online sales. The brand is also now focusing on “becoming a truly omnichannel retailer,” managing director for fashion, home and beauty John Lyttle told Reuters.