M&S sells Lifestores

Marks & Spencer has finally offloaded its ill-fated Lifestore to Danish furniture retailer Ilva, it emerged today.

Ilva, which is keen to expand into the UK where it hopes to rival Ikea, has paid £35m (€51.8m) for the 70,000 sq ft store in Gateshead and another site in Thurrock that was never opened, M&S confirmed.