Morrisons set for London store roll-out after Blockbuster deal

16:07 17 February 2013

The chain has gone into administration. File picture: PA Wire

The chain has gone into administration. File picture: PA Wire

Morrisons has bought 49 stores from failed rental chain Blockbuster to expand its convenience business in London and the south east.

The deal will not prevent any of the job cuts already announced by administrators Deloitte, but Morrisons said it hopes to create around 1,000 jobs as it reopens the shops as convenience stores.

The UK’s fourth-biggest grocer also announced the rebranding of its M Local convenience business to Morrisons M local.

Today’s announcement - for an undisclosed sum - follows the recent acquisition of seven stores from collapsed camera retailer Jessops as Morrisons takes advantage of quick access to high street locations to build up its convenience chain.

It hopes to have at least 70 convenience stores by the end of 2013, while it is expected to announce the latest move towards a full-scale online food delivery service alongside its annual results on March 14.

Gordon Mowat, managing director of Morrisons Convenience, said: “We are rolling out the Morrisons M local estate at pace this year and these acquisitions give us a kickstart in securing a solid foothold in this key sector.

“The convenience market is growing as more people shop locally and we want to be in a position to take advantage of this.”

The stores bought are among the 164 stores earmarked for closure by Deloitte last week, which threatens around 800 jobs and comes on top of the 168 shop closures and 760 job cuts already announced.

Related articles

Sign up for our news alerts today!

Our editors' picks for the day's top news delivered to your inbox or phone.

Sign up for email alerts Sign up for mobile alerts
1
2 3 4 5 6
7

Latest Stories from SNAP.PA

We let two experts have their say on why the campaign is needed – or isn’t.

Read more

You’ll either find inspiration here, or be a little grossed out.

Read more

Promoted content

Valentine's Day Afternoon Tea

London Hilton on Park Lane is inviting couples to celebrate this Valentines Day over a deliciously romantic afternoon tea at Podium Restaurant and Bar. Taking inspiration from the highly popular Confessions of a Chocoholic Afternoon Tea, London Hilton on Park Lane presents the ultimate romantic afternoon out with its Valentine’s Day Afternoon Tea.

Established in 1987, Tucci is one of the North's premier stores for branded clothing, footwear and accessories.

Save up to 70% on designer brands for Men and Women, including G-Star, Diesel, French Connection, Firetrap and many more….our sale is now on.

Nothing says

iWOOT has a great selection of quirky Valentine’s Day gifts for every possible person and partner.

We let two experts have their say on why the campaign is needed – or isn’t.

The gunman’s background and motives are still being investigated by the Dutch authorities.

This isn’t just another Boris-ism, he’s talking about an official MI5 report in “colourful language”.

The world of Disney is getting a little crowded with all these independent females.

TOP Stories

44 minutes ago
Even foxes needs a quick pick-me-up every now and again

Shocked coffee-drinkers at the BBC were joined by a fox who dropped in to the branch of Caffé Nero at New Broadcasting House.

16:44
Cyclist Victor Ben-Rodriguez was killed after being hit by a lorry at Ludgate Circus on April 3 2014 (Picture: Twitter/@G4Lycra)

A man has been charged with the death of cyclist Victor Ben-Rodriguez, who was killed after being hit by a lorry at Ludgate Circus in the City.

London's Air Ambulance [Photograph by John Power]

The London Air Ambulance landed in Avery Hill Park this afternoon to treat a critically inured man.

London Bloggers

Monday, December 22, 2014
Around 25 per cent of the population self-identity as having no religion yet still enjoy the fun of Christmas (Photo by Oli Scarff/Getty Images)

It’s Christmas time. We know this by the light-adorned streets, the mobility hazard posed by boxes of Quality Street, Roses and Celebrations in every supermarket’s entrance and, of course, the incessant radio-plays of Mariah Carey’s All I Want for Christmas Is You.

Thursday, November 27, 2014
The main room at the Museum of Comedy (Pic: Steve Ullathorne)

This week I visited the Museum of Comedy located at the corner of Museum Street and Bloomsbury Way in the crypt under St George’s Church.

Thursday, November 27, 2014
Bird Lovegod

I genuinely and honestly have only a slight problem when it comes to buying domain names.