Marks & Spencer Website Down Hours After Reveal of Financial Impact of Ransomware Attack

The Marks & Spencer (M&S) website was down in the early hours of Thursday morning, just hours after the retailer revealed it is facing a £300m hit to profits following last month's ransomware attack. The website, which has been the subject of disruption since April 22, appeared to be experiencing technical difficulties when customers attempted to access it.

A holding page was displayed on the M&S website, informing users that they were unable to browse the site. However, by around 7am, the website was back online, with M&S stating that their website is now open for browsing and that "overnight updates" were being made to get things back to normal for customers.

Online purchases have been suspended since the incident on April 22, and it may be a couple of weeks before services are partially restored. The disruption has caused significant concern among M&S customers, who had been eagerly awaiting news on when their favourite online shopping experience would return.

A Significant Financial Hit

The financial impact of the ransomware attack was revealed last week, with Marks & Spencer announcing that it is facing a £300m hit to profits. The company's valuation has plunged by more than £1bn as the fallout from the incident continues to mount.

Theories Behind the Attack

It is widely believed that M&S fell victim to Scattered Spider, a hacking group that has also been linked to similar attacks targeting other high-profile retailers, including The Co-op and Harrods. The attack appears to have been carried out using ransomware, which is a type of malware designed to extort money from victims by locking their data or systems.

Data Breach Compounded by Ransomware Attack

In addition to the financial impact, M&S has also revealed that personal data belonging to some customers was stolen during the attack. However, the company stressed that this did not include "usable payment or card details". Passwords were also not affected, but there are reports that contact details such as names, addresses and phone numbers were compromised.

Recovery Efforts Underway

Marks & Spencer's chief executive, Stuart Machin, has downplayed the impact of the attack, stating that the incident is "just a bump in the road" for the company. Mr Machin told analysts on Wednesday that M&S is "on the road to recovery" and will continue its plan to reshape the business for customers, colleagues, and shareholders.

"This incident is a bump in the road, and we will come out of this in better shape, and continue our plan to reshape M&S for customers, colleagues and shareholders," Mr Machin said. The company's commitment to recovery and resilience is evident in its plans to invest in new technology and improve its cybersecurity measures.