The retailer is attempting to renegotiate contract terms following an increase in the costs of sourcing from the Far East, Europe and South America.
One supplier told The Guardian: “It’s a constant battle to maintain agreements that were signed off before the economic crisis took a turn for the worse last year.”
But a Marks & Spencer spokeswoman denied a wide-ranging attempting to overturn contracts.
She said: “There is always a process of ongoing discussions with our suppliers about pricing. We are working hard with them to close the gap that has opened up as a consequence of the decline in the value of the pound.”
Analysts believe currency costs could add 10 per cent to Marks & Spencer’s costs this financial year.