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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.