Jan 10, 2011

Marks & Spencer to Open Banks?

Rumor has it that the U.K.’s largest clothing retailer, Marks & Spencer is considering opening banks inside 55 stores as part of its partnership with HSBC Holdings. The banks would give customers access to banking services at select stores by 2012 and also offer foreign exchange services for travelers. The London-based retailers sold M&S Money to HSBC in 2004 as part of a cash-raising exercise to help fend off a takeover bid by billionaire Philip Green who also owns Miss Selfridge and Topshop. No official word yet- but stay tuned for more details!

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