Questions raised over purchase of Blackpool Marks and Spencer's

As revealed last month, town hall chiefs have borrowed money to buy the property on Church Street where M&S is based for £4.8m.

But Conservative councillors told a meeting of the full council they were worried about what would happen if the national chain decided to close its Blackpool branch.

Coun Rick Scott said:: “In the current climate and the way the high street is today, do we think that’s a wise decision to use tax-payer’s money?

“If they (M&S) decide to close the store, they are not going to listen to Blackpool Council, and then we are left with an empty building and don’t have a tenant.”

Conservative group leader Coun Tony Williams said the top floor of the M&S store had already closed.

He added: “M&S will make their own minds up on whether or not they stay – it will be down to profit or loss.

“Where will we be with an empty building? It will be difficult to fill such an empty building. What is plan B?”

But Coun Ivan Taylor, deputy leader of the majority Labour group which approved the purchase, said he was “happy with the decision” and said he believed it would “do well for the council.”

The current M&S lease on the building is due to run out in March 2027, and the council hopes to recoup at least £3m back in rent during that time, and will hope to negotiate a new lease.

A report to the council’s executive says the M&S building is “a strategic regeneration asset in the heart of the town centre containing a high profile retailer.”

Ownership will enable the council to “utilise its influence and control of the asset to aim to secure the best possible future for the asset including retaining a high profile retailer in the town centre.”

M&S is currently closing many of its high street stores around the country to make savings of £300m, with 67 closures announced as part of the most recent tranche.