UK: Morissons buys up HMV stores for convenience drive
The purchase follows the retailer’s acquisition of 49 Blockbuster stores and seven former Jessops shops as it accelerates the expansion of its Morrisons M local offering. Morrisons said it hopes that the acquired stores, which have an emphasis on London and the South East, will be opened across the summer.
Gordon Mowat, managing director of Morrisons Convenience said: “We have either opened or acquired 70 stores just one month into our financial year so we are pleased that we will exceed our 2013 target.
“Our focus is now on opening these stores as soon as we can as well as pushing on to secure even more sites. This is a big expansion year for us and we have got off to a great start.”
Morrisons said it is also offering its colleagues a £500 finder’s fee if they find convenience properties for Morrisons that are subsequently opened.
Source: Morrisons
