Uk grocer Morrisons has snapped up seven stores owned by failed camera retailer Jessops as it looks to push further into the country’s convenience channel.
Morrisons, the UK’s fourth-largest grocer, is looking to build its fledgling M-Local store network. Rival retailers, particulary Tesco and Sainsbury’s, own hundreds of convenience stores but Morrisons only opened its first M-Local in April 2011.
Go deeper with GlobalData
“Last year, we were testing the format. This year is all about accelerating our expansion,” a Morrisons spokesperson said. The retailer wants to have “at least” 50 convenience stores by the end of its current financial year, which started today (4 February).
The spokesperson added: “We have a very different convenience format, with much more space for fresh food. We can offer consumers something different.”
Four of the Jessops stores Morrisons has acquired are in London. The retailer went into administration last month after failing to withstand competition from online rivals and the growing use of cameras mon smartphones.
See Also:
Reports in the UK have claimed Morrisons is among a number of food retailers interested in snapping up outlets from two other retailers that have recently moved into administration – music store chain HMV and film rental business Blockbuster. The Morrisons spokesperson declined to comment.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
