This pressure has led M&S's new chief, Stuart Rose to unveil a shake-up plan.

To improve falling sales the group say the focus will be on customers and further trading potential will be unlocked by returning to their core values of quality, value, service, innovation and trust.

But will it convince investors that this will boost the value of the group beyond Philip Green's offer of 400p a share?

Via an investors' conference call yesterday Mr Green urged shareholders to make their feelings known to M&S or he would have "no alternative but to pack-up".

Will shareholders accept Mr Green's offer? If you were in charge what would be your answer? Are you a shareholder? Do you agree with Stuart Rose's shake-up proposal or do you have a better idea? Send us your ideas.

This debate is now closed. Thank you for your comments.

Your comments:

They don't suit my mind and they don't suit my figure Madge, London

I'd fill the shelves with quality fabrics in a range of beautiful colours. I would stay away from one-season trends and concentrate on stylish, classic lines that are well-fitting and launder well. I used to get all my work clothes from M&S as I loved the styles eight years ago. Now I'm only half a stone bigger than I used to be but suddenly M&S clothes just don't fit me any more - they don't suit my mind and they don't suit my figure. I'd be back at M&S as fast as anything if they went back to quality clothes that fit.
Madge, London

I was brought up on M&S food. Absolutely everything I ate at home throughout childhood was from there. It's only now as an adult do I realise how dreadfully expensive it is! I know low price isn't the goal, but M&S food is a luxury and even though I'm a successful city professional, I don't know anyone who does all their shopping there. This has made it like a very expensive and occasional deli for many of us, not a retail giant.
Helen Webber, West London, UK

During my annual trip to UK, I have noticed that M&S has forgotten customer service. Their staff in London are rude and surly - making it the last place I want to spend my hard earned dollars.
Christine, Australia (ex UK)

Stuart Rose's focus is still not on customers. The plan is all about cost control, but where is the plan to bring customers through the door to spend more?
L Lewis, London

Get some consistency in place Kiltie, Staffs, UK

Get some consistency in place. My mother bought me a four piece suit from M&S all in size 14. The dress & jacket fit fine, the skirt is a squeeze and the trousers are a total no-go area. A friend of mine, who is disgustingly slim, had to go up to a size 18 last year in a top she liked because the size 12 nearly cut off her circulation. All this messing around with sizes has put me off buying their products. And as soon as they bring in a range of tights/make-up/foodstuff that you like, they then go and change it!
Kiltie, Staffs, UK

I would aim to recruit some new models. Peter and Zara for the horsy set, Wills and Lady Gabriella for the glamorous wannabees, Lady Helen Windsor for the matronly, and Becks for the sporty.
David de Vere Webb, Washington, England

I just don't understand this comparison with BHS and M&S. BHS is everything people accuse M&S of being. M&S has wonderful machine washable cashmere jumpers, beautiful linen separates, sexy underwear etc. It is BHS that is frumpy and full of polyester. As a shareholder and someone who loves fashion - keep Philip Green away from M&S, he will ruin it!
Maggie, Shoreham UK

Don't give up on Per Una M&S Maggie, Shoreham UK

I love Zara clothes But I also love Per Una clothes. Don't give up on Per Una M&S. A lot of my over 40's friends love it too so don't start offering us sensible classic clothes....we can wear those when we hit our 70's!
Maggie, Shoreham UK

I notice cutting 650 staff positions/roles is an objective in the plan. Why Mr Rose when one is unable to receive any support on the floors? What you need is more staff who will reintroduce the 'personal' touch to the shopping experience, not less. And, review the ambience and layout of products in the shop. M&S is not a bazaar.
Patrick-Spencer Salami, London, UK

Why target older people? Aren't younger people the ones with the spending power and the need to constantly update their wardrobes? Get the brand sorted out and make it "cooler". The only problem M & S have in that respect is Next - trendier, reasonably priced, and not a brand linked to old people. Perhaps this Philip Green is the man for the job after all!
Andy, England

I'm 36, part of the new target group. M&S does not appeal to my age group. The clothes are currently designed and marketed at the 55-75 age group. Old fashioned and comfortable casual separates.
Rhiannon Smith, Poole

Lack of innovation, high prices and a lack of flair on their products Percy Thomas, London, UK

M&S should be a lesson for all those companies who think they can abuse their suppliers. For too long the buyers have abused their position with suppliers and now they are paying the price. Lack of innovation, high prices and a lack of flair on their products. Ordinary suppliers are not motivated to perform for them and their consumer.
Percy Thomas, London, UK

I'd take the management back to the store and ask for a refund.
Andrew Thomas, Stratford-upon-Avon

M&S used to be the only place I could find decent quality trousers, suitable for work, at a sensible price, that would last. Now they are one of many places where I can buy badly-made and not-quite-fitting trousers for the same price as before, knowing they'll be tatty and unwearable within six months. Go back to your roots and you might find your customers returning. Chasing the fashionistas when your name is associated with traditional values is pointless.
Jonny, UK

I have a great deal more confidence in Philip Green's demonstrated abilities than in the untried Stuart Rose, and this is confirmed by the cost-cutting measures the latter proposes.
Andrew Hoellering, Exeter, Devon

We used to have a phrase at school that covered our opinion of M&S - it's good but it's not quite right. Per Una has gone some way towards making things right at M&S. I can't understand though why I have to take two sizes larger in Per Una than in the rest of the store! Get rid of the crimplene and beige and get more of the funky, classy and fun gear in! Also - how about a M&S no frills/smart price/basics food range as I always feel a bit indulgent whenever I buy M&S food!
Lin, London, UK

M&S is ignoring the baby-boomer generation of women Christine Ellson, Gloucester

I rarely shop in M&S these days. I think M&S is ignoring the baby-boomer generation of women (especially those of us admittedly on the large side) with high disposable income and some residual sense of fashion and desire to look good given the changing shape of our bodies! Why not a niche for this group (in addition to Per Uno) incorporating a sense of style, good cut and quality fabrics? This would bring people like me back to M&S, I feel sure.
Christine Ellson, Gloucester, UK

Focus on customers? So what have you been doing up until now then?
Philip, London, England

M&S staff are brilliant as are the food halls and home furnishings. I hope that Stuart Rose listens not only to what customers want but also to what M&S shop floor staff feed-back. And no, I don't have any connections with M&S.
Sasha, Kent

They still do the best gherkins money can buy.
Ian, UK

M&S is just far too expensive. Simple.
Hannah , UK

M&S totally misjudged the market for Per Una. It was supposed to bring in my generation, but missed the mark completely. Look in any M&S now and all the people browsing round Per Una are over 40. M&S should concentrate on the areas that have always been its strengths, namely food and smalls, and leave fashion, furnishings and finance to the experts.
Twenty-Something, Oxford, UK

In my local branch they surveyed us and then took absolutely no notice of what people had said! How arrogant is that? Recently I emailed their Customer Services bemoaning the lack of choice in their clothing both for my age group (I am 60) and for my six-year-old granddaughter. I did not get an acknowledgement. They have got to listen to their customers - but they haven't listened for the past 10 years and most of their usual clientele have gone elsewhere. Serves them right!
Ailsa, Grimsby, UK

I'm 24 and I love the Per Una range. I never used to buy clothes from M&S, now I do. If they can keep the Per Una brand identity separate from their bland own-brand ranges then I shall continue to shop there. I haven't found many other stores that carry clothes that I like, so I hope these plans attract 35 to 55-year-olds don't start with excluding us younger shoppers. We don't all want big-name designer brands and cheap clubbing gear, you know!
Kat, Derby, UK

Please don't neglect your male customers, Mr Rose. I have many good quality Made in England M&S clothes which are outlasting newer imported items.
Peter White, Enfield, UK

I'd make the designers focus on who the customers are and what they want Alison, Edinburgh

Stop Diversifying! Marks and Spencer's means pants, tights, posh food and suits for men. It can't be a do it all store. Once I've closed down the home store and thrown out all the rubbish toys they fill the shelves with, I'd make the designers focus on who the customers are and what they want. The clothes in their shops are for people who don't exist any more - people in my mother's age group are more interested in styles from Topshop than the paisley pattern skirts and beige cardigans that haunt the shop floors. Who wears these? My Gran - and she never buys new clothes! As long as Stuart Rose's proposals mean a real change and result in a shop that has clothes people are happy to wear, full steam ahead! If not, I'm off to John Lewis and Debenhams.
Alison, Edinburgh, Scotland

As a 35-55 year old woman, recognise that I want classy and stylish, not one season trendy, clothes. And look around - most mature women are not shaped like twiglets, but are naturally curvy with - shock horror - rounded stomachs and does my bum look big in this? behinds! Ditch the figure hugging, lycra-infested clothes, flatter us with generous sizes and we'll come running back
Elizabeth, Manchester, UK

I did used to enjoy shopping for my clothes in M&S as the quality and styles were great. However, as I have become older the clothing and in particular the underwear, have regressed into such frumpy styles - that I'm afraid that I wouldn't be seen dead in them! The prices have increased and the value has plummeted! Obviously I am not the only person who is of this opinion! The food hall however has always been tops for quality and value - however I must add that I wish you would increase your stocks of Taramasalata as it so popular (as it is the best) that it sold out as soon as it hits the shelves!
Penny Farmer, Sussex

M&S has become far too fashion-conscious in their clothing ranges. They used to stock reasonably good quality, affordable clothing that wasn't too way out. Something for middle-aged middle Britain. But they transferred production from their British suppliers for cheaper imports of trendy gear, which looks weird and doesn't fit. Let's face it, if you are the sort that wants designer labels you aren't going to shop in M&S. You go to M&S for your Y-fronts, socks, and a suit that isn't going to shock anybody. The buyers clearly don't know their market.
Dan, UK

M&S has been the victim of a long running smear campaign to destabilise it in order for it to be bought. That such a well established High Street name has been treated in this way is a disgrace. This approach cheapens its name - which is clearly the whole idea. Even Stuart Rose has been attacked personally in this seedy affair. To think that the firm could fall into the hands of, well, another person fills me with trepidation and anger. I hope that �4 is the final offer and that it is rejected.
Robjohn, UK

I used to buy all my clothes at M&S. However, I use a competitor almost exclusively now. I became frustrated with M&S for two reasons: Firstly declining quality and secondly, poor stock control. Many of their lines of clothes are just cheap imports. Looking around, I would guess that I'm an average size British male - consequently, my size, being in greatest demand, is invariably sold out. Because of this mismanagement, M&S are now facing the retailers' worst nightmare. Whilst it's dead easy to lose customers through selling junk, it's a whole lot harder to win them back again.
Chris, Sutton, UK

Quality at M&S clothing has gone down but prices have remained high Ian, Bradford, UK

The board at M&S desperately trying to justify their jobs. The truth is that their policy of switching supply to the Far East has not been too successful. Other retailers were doing this before them and are doing it better. Consequently, quality at M&S clothing has gone down but prices have remained high. If they want to maintain a strong brand based on quality and relatively high prices they should look again at their traditional supplier base.
Ian, Bradford, UK

Marks and Spencer seems to have lost sight of its target customer - let's say the more mature shopper. If BHS is anything to go by, bringing in Green won't guarantee quality or service - he's just someone that typifies the current obsession with takeovers and quick profits.
Rob, Harlow, Essex

I'm still upset they closed the Amsterdam branch. The food halls were a god-send, and were always busy and were very popular. I can understand trying to back to the core business, but shutting the profitable overseas branches to develop the UK stores seem like throwing out the baby with the bathwater.
Matt, Amsterdam, Netherlands (ex UK)

M&S is nowhere near as bad as its image and the chattering classes suggest Scott Jones, Blackpool, England

M&S is nowhere near as bad as its image and the chattering classes suggest. It's fundamental problem is a tipping point. The store is perceived to be troubled and outdated and people are jumping onto the bandwagon and suggesting this. I think if customers actually took the time to visit the stores they will be pleasantly surprised at the range of quality products on offer. I would concentrate on Simply Food Stores and look at franchising these stores out in towns with a wealthy affluent of people and working professionals.
Scott Jones, Blackpool, England

I agree with many others. More clothes in classic styles. Keep the prices lower and children's clothes need a complete overhaul. A 13-year old girl is not going to wear a pretty dress so why make them. I would reject Philip Green's offer. BHS is a horrid shop and M&S is far superior but it does need streamlining. Per Una is good but too pricey.
Penny Crocker, Ealing, London

Just by simply making the experience of being in the shop an excellent one will help them considerably - why not open sandwich stalls for at lunch, have eating areas with friendly, helpful staff. The management should try reading Why We Buy by Paco Underhill - they'd learn a lot...
Andy, Lancs

The best thing that Stuart Rose could do is to take the money! M&S have lost their way - their clothes are too expensive to compete with economy brands, and insufficiently interesting to compete in the mid market. If M&S is to survive it needs to make its mind up about what it wants to be in the 21st century - it can't survive on trying (and failing) to provide safe clothes for middle aged shoppers.
John, England

I think that M&S get a bit of an undeserved hammering from the consumer. I don't have a problem with their products, especially the food, and find them really helpful in ordering items if they don't have them in store. Stop hassling M&S and start supporting them.
Amanda, Bristol, UK

Stop trying to be all things to all people Jean, Cornwall, UK

When do you ever see anyone under 35 in M&S? They must decide who their market is and give them good quality British-made clothes in sensible colours and classic styles (though not their current Classics - ugh!) Perhaps they need to downsize and stop trying to be all things to all people. How about separate smaller shops for men, women, food and furniture/furnishings?
Jean, Cornwall, UK

M&S should develop try-on and pick up facilities at stores to support internet ordering. This would mean it could increase the number of small stores in smaller towns and use them as portals to the main stores. The range of not only clothes but food, furniture etc could be expanded and kept innovative or specific to key markets as required and at lower costs into the bargain.
Andrew B, Weymouth, England

The current battle is not about M&S in the marketplace. It is about money and city manipulation. This has been the bane of M&S for years. For a Board to develop a new corporate strategy in such a short space of time for such a large organisation, to replace a previous strategy that had only just begun to be implemented illustrates that this is not a serious focus on the issues affecting M&S in the market. M&S is the leading retailer in the UK and can continue to be so. There comes a point, however, beyond which it is impossible to either grow or sustain market share in a competitive environment and an alterative view of business needs to be taken. Sustainable success with M&S will only come if it is returned to private hands and the city kept out.
Sean Chiles, London, England

If I were the boss, I would take the same line as Stuart Rose: anything else would be like resigning. On the other hand, if I were a shareholder, I might quite like the company being taken over by someone with a proven track record in retail success. It's a case of more of the same vs new ideas.
David Hazel, Fareham, UK

Look at the age of the average M&S shopper and offer appropriate classic English clothing. You only have to walk around your own store to sum up the average age and requirement.
Beverley Lewis, Cambridge

Just because you reach 50 does not mean that you no longer like fashionable items Lesley Barraclough, Chelmsford, England

There are not enough fashionable clothes for women in their 50s that are over a size 14. Per Una has some wonderful fashions but they are often cut on the small side and so I am disappointed that they won't fit. Just because you reach 50 does not mean that you no longer like fashionable items. Not everyone is a stick insect.
Lesley Barraclough, Chelmsford, England

The short answer is to go with Philip Green but get him to tweak up his bid a bit. The board's plan to focus on 35 to 55 year old women will not work, most of this age group prefer BHS. The plan to return �1 to shareholders is fine but that still leaves the shareholder with paper that will probably collapse in price when Green walks away. So I say take Green's cash.
Malcolm, Blackpool

I think the refocusing proposed by Stuart Rose is a bold but necessary move. M&S have tried to be all things to all men for far too long and their customer base doesn't recognise what they have tried to become. I don't think a Philip Green takeover would be a good thing for Marks & Spencer.
Parminder, Leeds, UK

M&S should stay as it is, just some adjustments needed with the brand. It should revert back to just selling British!
Richard, Birmingham

The decision should be based truly on the interests of the whole company for the foreseeable future. There shouldn't be any personal decisions involved such as those of Stuart Rose's preservation. If Stuart honestly thinks he can move M&S forward, then do that, otherwise you cannot ignore the success and abilities of Philip Green. I believe he would almost certainly succeed so if there are doubts by the shareholders, I'd personally opt for Philip. Better track record than Stuart.
Mark Watson, High Wycombe, UK

Go with Stuart Rose and preserve part of the British tradition.
John Hollinrake, London, UK

I would get rid of the stock that seems to be in every M&S, which is the old fashioned stuff even your grandmother wouldn't be seen dead in. Nylon, poly-cotton static nightmares. If they want to appeal to their 35-55 market they need to get with it, these women want fashion and quality not old tat!
Claire, Surrey

The shake up plan is merely self preservation for the top tier. These are stalling tactics to prevent them from being made redundant. If there were going to be successful they would have done it already. They have had long enough, time for a change!
Duncan, Salisbury, UK

M&S are snobby, out of date and quite frankly don't care about the customer, only the share index Paul Mercer, Grays

M&S have always thought they were better than everyone else; other stores that make it a pleasure to be there deserve the custom. M&S are snobby, out of date and quite frankly don't care about the customer, only the share index. I hope they leave the High Street completely and have to start all over again, better brands like C&A have gone and M&S should think on...
Paul Mercer, Grays, Essex

I don't care what happens to M&S so long as their food products are unaffected. I live for M&S food halls.
Steve Fricker, Warsash, Hants, UK

That's what you get when you move your sweat shops to Eastern Europe and the Far East. M&S used to have standards but have gone down hill. They need to bring production back to the UK and pride themselves on that like they used to.
Fraser Howse, Essex, UK

I would bring things back to basics, priding themselves on quality with all products. It used to be such a pleasure to shop in M&S but is no longer. I put them on par with Somerfields for food and Primark for clothing - ok, but nothing special. Shopping there used to be a luxury and they need to bring that back.
Gwynn Evans, Chelmsford, Essex

Stuart Rose gives off an aura of quiet desperation, but very little passion. Time to go.
Gerry Noble, Salisbury, UK

The mere thought of M&S brings me out in cold sweats, thinking back to being dragged round the place for hours on end as a child. Close it down.
Jules, Aberdeen, UK

This is great news for the over 45s who really have few outlets to buy good quality clothes at reasonable prices which aren't granny like in appearance or too young (tight!). I have despaired at M&S over the last few years who could always be depended on for quality clothes. I feel there are many 50 something women like myself who want fashionable clothes and have despaired at the demise of M&S. So go for it Stuart - we are behind you!
Jean, Crowthorne, UK

One thing I would do is put back all the European stores, here in Amsterdam the site of the old store has been empty on and off since the end of 2001, with no real replacement ever appearing. I know that friends in Brussels and Paris feel the same. Europeans liked Marks and Spencer, apparently more than British people do!
Jennifer, Netherlands (ex UK)

Well for one thing I'd replenish stocks of things that sell well. I go back a frequently to get something I purchased before and liked only to find they don't have it in stock (I'm talking food and clothes here). If something is selling well then it's obviously popular so why let get out of stock? And why is my size always out of stock too?
Peter, Birmingham, UK

What can Stuart Rose do that others have tried and failed? I'm a shareholder and I'm losing money. It needs more than one guy to turn this disaster around. Implement a new board to make the decisions and if they'll let me, I'll happily join it!
Ashley Cullin, Bolton, Lancashire

I would close down the clothing department which is well past its best and unable to compete with other high street retailers, and concentrate on trying to improve the food products as M&S is one of the few food retailers to have a High Street presence. That's not to say the food departments are currently good - our local store repeatedly sells products past their sell by date and doesn't reduce items sold on their use by date either...
Carol, Chelmsford, Essex