KHUSHBU GUPTA( A1802010224)
RAMA SANGAL( A1802010277)
History about Marks & Spencers
MICHAEL MARKS AND THOMAS SPENCER
The company was founded by a partnership between Michael Marks, a Litvak Jew from Slonim, Poland (now in Belarus), and Thomas Spencer, a cashier from Yorkshire. On his arrival in England, Marks worked for a company in Leeds, called Barran, which employed refugees (see Sir John Barran, 1st Baronet). In 1884 he met Isaac Dewhurst, the owner of a Leeds warehouse, which resulted in him opening his own stall on Kirkgate Market, in Leeds. The next few years saw Michael Marks open market stalls in many locations around the North West of England. In 1894, Thomas Spencer invested in Marks' activities and they opened their first store, in partnership, at 20, Cheetham Hill Road, Manchester.
In the early 1990s Green bought the department store chain Owen Owen which at the time had about 12 branches trading under the Owen Owen and Lewis's brand names. During his ownership most of these department stores were sold to other operators including Debenhams and Allders or were closed leaving only the Liverpool branch trading as Lewis's. In 2004 this remaining store was sold off.
Green came to public attention in 1999 when he assisted Tina Green to make a £9-billion hostile bid for Marks and Spencer (M&S). However, the leaking of the bid forced up M&S's share price. The board of M&S were also hostile to the bid and sought to block it. Eventually Green gave up and helped his wife purchase the ailing retail chain British Home Stores for £200 million. His takeover came when everyone else had dismissed the company as a failing brand and unfixable. Green put up £50 million of his own money and borrowed another £150 million to seal the deal. Green completely turned the company around and the chain is now thought to be worth over £1.2 billion. Since Green took over, profits... [continues]
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(2011, 10). Marks and Spencer. StudyMode.com. Retrieved 10, 2011, from http://www.studymode.com/essays/Marks-And-Spencer-811735.html
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"Marks and Spencer." StudyMode.com. 10, 2011. Accessed 10, 2011. http://www.studymode.com/essays/Marks-And-Spencer-811735.html.