Marks & Spencer Says It's NOT Leaving the Philippines — Even Though SSI Is Closing All Its M&S Stores by May

Marks & Spencer just dropped a clarification that confused shoppers probably didn't expect: the British retail giant says it is NOT leaving the Philippines, even though its local partner SSI Group just announced it's shutting down all M&S operations by May 2.

The London-based retailer issued a statement on Friday saying it 'remains committed to the growth opportunity in the market.' This came after SSI Group disclosed on Wednesday that its subsidiary, Stores Specialists Inc., would wind down M&S operations in the country — ending a partnership that began in the late 1980s.

So what happens next? The clarification strongly suggests M&S is looking for a new franchise partner or possibly considering a direct-to-consumer model to maintain its presence in the Philippines. The company's global leadership emphasized that its objective to bring 'the best of M&S' to international customers remains unchanged.

SSI described the exit as a 'strategic realignment' to match shifting consumer preferences — corporate speak for 'the numbers aren't working.' The nearly 40-year partnership made M&S a staple of Philippine luxury malls, pero changing retail habits and competition from fast fashion may have taken their toll.

For Filipino M&S fans — and there are many who swear by the brand's food and clothing — the message is clear: the stores will close, pero the brand will find a way back. Whether that means a new partner, online-only presence, or company-owned stores remains to be seen. Start stocking up on those Percy Pigs while you still can.

Source: Manila Bulletin