Morrisons to do Deal with Costcutter?
By Laura Elliott.
UK retailer Morrisons is reportedly in talks concerning the acquisition of a number of Costcutter outlets. The move would rapidly increase the supermarket giant’s presence in the convenience store sector of the UK market.
The chain is said to be in discussions with the financial services and shipping company, Bibby Line Group, which currently owns Costcutter and has more than 100 stores in Scotland. Morrisons is currently struggling to compete with its rivals Sainsbury’s and Tesco, who have both experienced significant success by making gains with smaller convenience stores placed in high streets and suburbs.
In June last year, Morrisons launched its smaller store format M Local, and the chain reportedly has plans to expand the number of sites to 70 by the start of next year. It has been speculated that the retailer has been in discussions concerning the Costcutter acquisition for a number of months, but the chain has refused to comment on such speculation at the present time.
Short URL: http://www.internationalsupermarketnews.com/?p=7350