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Morrisons buys 49 Blockbuster shops to grow convenience unit
SUPERMARKET chain Morrisons yesterday snapped up 49 stores from defunct video chain Blockbuster, proving its commitment to the UK high street as it seeks to expand its offering of smaller shops.
Blockbuster collapsed into administration last month, and advisers Deloitte are planning to close 332 stores across the UK.
Morrisons, which earlier this month bought seven stores from collapsed camera retailer Jessops, will use the new sites to grow its Morrisons M Local convenience business.
The UK’s fourth largest grocer has been lagging behind rivals in recent months, losing market share and posting a 2.5 per cent slump in like-for-like sales in the six weeks to 30 December.