Two founders of the Londis Shareholders Action Group have quit the symbol group to join Nisa.
The day after Musgrave paid the first £15,823 to Londis members under its takeover deal for the group, Adrian Costain and Kishor Patel announced they were leaving. Each will forfeit the £15,822 second payment which will be awarded to members trading with the group in a year.
LSAG was set up in protest after a first lower offer for Londis, but eventually endorsed the later offer from Musgrave.
Costain, who runs a 2,200 sq ft store at Aintree in Liverpool, said he believed a mutual group would deliver the best value for independents, and that was why he joined Nisa. Both Costain and Patel said they believed the cost advantage offered by Nisa would quickly outweigh the £15,822 payment from Musgrave.
Patel, who owns three stores north of London and is opening a fourth, said: “I am planning a heavy emphases on fresh and chilled and Londis doesn’t have that.”
Eoin McGettigan, Londis chief executive, said: “Musgrave has developed a highly successful model for supporting independent retailers.”
He added that 109 retailers had joined Londis since the share register closed in April, even though this meant they would not share in the payout to members.