Back to today’s briefing

Story perspectives

M&S Faces £500 Million Loss Amid Ransomware Crisis

4/30/2025

37 3

Summary

Story summary

Marks & Spencer (M&S) is grappling with a severe ransomware attack from the notorious hacking group Scattered Spider, which has crippled online orders and led to empty shelves in stores. Since February, the crisis has erased over £500 million from M&S's market value, leaving customers and investors anxious as the company seeks help from cybersecurity experts without revealing when normal operations will resume.

History

Historical Context

M&S's ransomware crisis echoes the 2017 Equifax breach, which similarly devastated operations and eroded consumer trust. Both events highlight the growing vulnerability of major corporations to cyber threats, emphasizing the need for robust cybersecurity measures in an increasingly digital marketplace.

1 of 2

Story summary

Marks & Spencer (M&S) is grappling with a severe ransomware attack from the notorious hacking group Scattered Spider, which has crippled online orders and led to empty shelves in stores. Since February, the crisis has erased over £500 million from M&S's market value, leaving customers and investors anxious as the company seeks help from cybersecurity experts without revealing when normal operations will resume.

1 / 2