Morrisons planning to close 100 stores in the next few months
Britain's fourth-largest supermarket chain Morrisons said it will close about 100 stores in the next few months as it grapples with falling sales and pressure on margins. The move could affect roughly 4,000 employees.
In an interview with the BBC, Morrisons Chief Executive Rami Baitiéh said the company had decided to close small and underperforming branches as well as in-store concept counters. The list will cover 13 supermarkets and 88 Daily Convenience and café formats across the country.
Mr Baitiéh emphasised that most employees at affected stores would be offered transfers to other nearby Morrisons branches, but said structural change in the supermarket sector made the retrenchment unavoidable. In a statement, the GMB union called for 'a clear timetable and redeployment plan' to protect job security for the 4,000 employees concerned.
Morrisons has carried a heavy debt load since its 2021 leveraged buyout by Clayton Dubilier & Rice. According to the BBC, the closures aim to deliver close to £50 million in annual operating-cost savings. Rivals such as Tesco, Sainsbury's and Aldi continue to take market share in the large-format supermarket segment.
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