Case 11 The continuing dilemma for Marks & Spencer: and no jokes about “Has Marks lost its sparks”!
M&S started life in 1854 in northern England when Michael Marks opened his ﬁ rst penny bazaar. It moved into high street retailing, branching into food and clothing and dressing the British in everything from socks to schoolwear. It was the ﬁ rst British retailer to make £1 billion in proﬁ t but was torn apart by a bitter succession battle in the 1990s. M&S has also seen off two takeover approaches from billionaire retailer Sir Philip Green.