M&S will close 11 franchise outlets in France following Brexit

After new trade laws in effect after Britain exited the European Union harmed product availability, British retailer Marks & Spencer (OTC: MAKSY) said it would close all 11 franchise outlets in France with partner SFH in the coming months.

According to the company, nine franchise outlets with partner Lagardere Travel Retail are still open for business, and both parties are working closely on a long-term business plan.