Morrisons is set to bring in £250m by selling 140 of Safeway’s smaller convenience stores after acquiring the supermarket group last week.
Weekend press reports suggest that the Big Food Group, Somerfield and German discounters Netto and Aldi have shown interest.
Morrisons joint managing director Bob Stott, told The Observer that he had been surprised at the level of interest shown in the stores by potential buyers. He added: “The convenience stores are small for us, at below 15,000 sq ft. We will not hold on to them if it distracts us from the main prize - the larger outlets where we can most effectively improve performance and boost sales.”
The Sunday Telegraph said Morrisons planned to convert three Safeway stores each week to its own format from mid-2004, over two-and-a-half years. The paper said Morrisons managers will be transferred to Safeway stores and former Safeway staff will work in existing Morrisons outlets to get a feel for the Northern-based chain’s culture.
The Sunday Times reported that the City was surprised last week by Sir Ken Morrison’s announcement that his 27-year-old son William will be his successor at the supermarket group.
Weekend press reports suggest that the Big Food Group, Somerfield and German discounters Netto and Aldi have shown interest.
Morrisons joint managing director Bob Stott, told The Observer that he had been surprised at the level of interest shown in the stores by potential buyers. He added: “The convenience stores are small for us, at below 15,000 sq ft. We will not hold on to them if it distracts us from the main prize - the larger outlets where we can most effectively improve performance and boost sales.”
The Sunday Telegraph said Morrisons planned to convert three Safeway stores each week to its own format from mid-2004, over two-and-a-half years. The paper said Morrisons managers will be transferred to Safeway stores and former Safeway staff will work in existing Morrisons outlets to get a feel for the Northern-based chain’s culture.
The Sunday Times reported that the City was surprised last week by Sir Ken Morrison’s announcement that his 27-year-old son William will be his successor at the supermarket group.
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