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Manila Bulletin devider Business devider The Stock Market devider M&S denies Philippines exit after partner SSI plans store closures

M&S denies Philippines exit after partner SSI plans store closures

Published Feb 27, 2026 06:29 am
Marks & Spencer Group clarified that it has no plans to withdraw from the Philippines, moving to calm market jitters after its long-time local partner, SSI Group Inc., announced it would shutter all its M&S operations by May 2.
The London-based retailer said in a statement on Friday, Feb. 27, that it remains committed to the growth opportunities in the Philippines, despite the looming termination of its nearly 40-year relationship with the country’s largest specialty store operator.
The British brand’s global leadership said its objective to build a trusted global presence by bringing its apparel and food offerings to international customers remains unchanged.
“Our objective to build a trusted global brand by bringing the best of M&S to customers around the world, remains the same. We are not exiting the Philippines; we remain committed to the growth opportunity in the market,” a spokesperson for Marks & Spencer said.
The clarification suggests M&S may be seeking a new franchise partner or considering a direct-to-consumer model to maintain its footprint in the region.
The development follows a disclosure by Tantoco-led SSI Group on Wednesday, Feb. 25, which confirmed that its subsidiary, Stores Specialists Inc., would wind down the brand’s local presence.
SSI said the exit was a strategic realignment of the company’s portfolio to better match shifting consumer preferences. The move concludes a partnership that began in the late 1980s and saw M&S become a staple of Philippine malls.
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