11:02am Wednesday 7th January 2009
High street retailer Marks and Spencer is to close its Valley Park store, leaving 68 employees potentially jobless.
The retailer has been hit hard by the economic downturn and in response announced today the closure of 27 stores in total.
The Valley Park store in Croydon was one of two main chain stores to be earmarked for closure, while a further 25 Simply Food stores are set to close across the country.
Stuart Rose, chairman of M&S, said: "We believe that we have looked at every available option and opportunity to keep the Valley Park store open, but in this tough trading environment it is no longer commercially viable. We are very sadly putting forward this proposal to close the store and will listen carefully to any suggestions employees have for alternatives.
"We have a great team here and I would like to thank them for their commitment to the store and for their hard work delivering excellent service to our customers.
"If this proposed closure goes ahead, we hope that our valued customers will continue to shop with M&S at one of our alternative local stores such as Croydon, Beckenham or West Wickham, which offer a wide variety of quality M&S products."
A period of consultation will now start with the store’s 68 employees.
In the event of closure, employees will be offered appropriate help from M&S to find alternative employment in the local area.
Malcolm MP, MP for Croydon North, said: "The closure of the Marks & Spencer store at Valley Park indicates the seriousness of the economic recession. It's going to be a very tough year.
"I am urging Marks & Spencer's to do their utmost to redeploy these staff members, who have served the store loyally."
The closure of the store is the latest in a line of well-known high street retailers pulling out of Croydon.
Woolworths closed its doors at the beginning of the month after almost 100 years of trading, the Pier has shut, while the Officer’s Club and Roseby’s are also set to close within the month.
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