SSI ceasing operations of Marks & Spencer

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February 26, 2026 | 12:00am

MANILA, Philippines — Listed specialty retailer SSI Group Inc., through subsidiary Stores Specialists Inc., will stop operations of Marks & Spencer in the Philippines by May.

In a stock exchange filing, SSI said the final day of store operations for Marks & Spencer is set on May 2.

“This has not been an easy decision. Building Marks & Spencer in the Philippines has been a meaningful and rewarding chapter for our organization,” SSI said.

“We are deeply grateful to our loyal customers, dedicated employees and partners who have supported the brand through the decades,” it said.

SSI said it would work closely with employees, partners and stakeholders to ensure a responsible and respectful transition as operations wind down.

The first Marks & Spencer store was opened in the Philippines almost 40 years ago.

Under SSI’s stewardship, the brand has been an important part of the Philippine retail story.

SSI said it has worked closely with Marks & Spencer throughout this journey to bring British quality, heritage and innovation to generations of Filipino customers.

However, with consumer tastes and shopping behaviors continuing to evolve, SSI said it is both prudent and necessary to channel its energy and resources toward brands that reflect the current and future direction of the market.

While the company recognizes the significance of this transition, it also views change as an essential part of growth.

“Retail is constantly transforming. Change is inevitable, tastes evolve and therefore so should we. We remain committed to the constant strengthening of our portfolio and delivering experiences that resonate with today’s consumers,” SSI said.