M&S confirms it will close its Newmarket store in August
Marks and Spencer has confirmed it will shut its Newmarket store in August, ending nearly 30 years of trading in the town.
The flagship Guineas store is to close for the final time on August 11, and is one of 14 the prominent high street chain is to axe as it struggles to adapt in a changing retail climate and weak customer spending.
Calum Telford, head of region for East Anglia at Marks and Spencer, said: "Proposing to close the Newmarket store was a difficult decision. Over the past few weeks we've been consulting with out colleagues and, following this rigorous process, the decision has been made to close the store on August 11.
"We'd like to thank the local community and our customers for the feedback they've given over the last few weeks. We'll continue to serve customers from our nearby stores in Cambridge and Bury St Edmunds."
The Newmarket branch was opened in November 1989 after racing enthusiast and Jockey Club member Sir David Sieff, a company director from 1972 to 1997, was said t have backed the store's move which, at the time, would not have been considered large enough to have fulfilled the company's criteria for opening a branch.
In 2016 the company earmarked 100 low-performing stores for closure of change, but moved to a more aggressive closure plan as sales moved online.
In May the 134-year-old retailer announced a 62.1 per cent fall in its annual pre-tax profits, its second year of falling returns.