HIGH Steward of Colchester Sir Bob Russell bought more than 100 shares in Marks and Spencer so he could implore bosses at the company’s annual general meeting to keep the city's High Street branch open.
Formerly the Colchester MP from 1997 until 2010, Sir Bob bought a total of 124 shares in Marks and Spencer Group PLC at the cost of just under £200 so he could obtain a one-minute time slot to speak at the meeting.
With the AGM taking place online, shareholders who wished to raise a point at the meeting were asked to submit questions in advance.
Making the most of the opportunity, Sir Bob addressed the chairman of Marks and Spencer, Archie Norman, asking for the two to meet to discuss the future of the High Street branch.
Mr Norman, who was appointed chairman in 2017, had previously been the MP for Tunbridge Wells from 1997 until 2005.
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Addressing the Marks and Spencer chairman, Sir Bob asked if Mr Norman could spare the time for the two to have a meeting.
He said: “I decided that to get through to the board of directors, the best way would be through the AGM.
“Archie Norman was an MP – he may remember me because we had a shared interest in cystic fibrosis and helping those who have the condition, [so] I am hoping he will remember me for that.
“That might, just might, make him think ‘OK, let’s have a meeting.’”
Sir Bob added that his video message to the AGM, combined with the existing campaign to keep Colchester High Street Marks and Spencer open, could convince bosses to keep the store open in some capacity.
“With them having been promised a meeting, and me making a direct appeal to the chairman, that will hopefully [bolster the chances of the campaign.]
“I simply can’t believe that the footfall is going to be replicated in a store in Stanway.
“Out-of-town shopping parks were all the rage in the 1980s and 1990s, but supermarkets are coming back into fashion in town centres – Marks and Spencer has made a commercial decision, but it’s a commercial decision which is flawed.”
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