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February 16, 2004

UK: Costcutter offers Londis shopkeepers £30,000 incentive

UK convenience store group Costcutter this weekend upped the stakes in its bid to buy its counterpart Londis.

UK convenience store group Costcutter this weekend upped the stakes in its bid to buy its counterpart Londis.

Costcutter offered Londis franchise holders an incentive worth £30,000 (US$56,500) if they trade with Costcutter. The company is reported by Dow Jones to have made this offer in a letter to about the half of Londis’ 2000 franchise holders.

They have been offered £10,000 after four weeks of trading with Costcutter, followed by two more payments of the same value if they sign a four-year contract.

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